Empowered Funds LLC Cuts Holdings in Phillips 66 (NYSE:PSX)

Empowered Funds LLC lessened its position in Phillips 66 (NYSE:PSX - Free Report) by 8.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 153,052 shares of the oil and gas company's stock after selling 13,599 shares during the quarter. Empowered Funds LLC's holdings in Phillips 66 were worth $20,119,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company's stock worth $6,741,218,000 after acquiring an additional 1,578,669 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Phillips 66 by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company's stock valued at $1,189,035,000 after buying an additional 402,925 shares in the last quarter. Boston Partners grew its position in shares of Phillips 66 by 41.4% in the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company's stock worth $889,214,000 after buying an additional 1,595,722 shares during the period. Legal & General Group Plc increased its stake in shares of Phillips 66 by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company's stock worth $522,240,000 after acquiring an additional 18,238 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Phillips 66 by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company's stock valued at $514,253,000 after acquiring an additional 111,261 shares during the period. Hedge funds and other institutional investors own 76.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PSX shares. Barclays reduced their target price on shares of Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating for the company in a report on Monday. JPMorgan Chase & Co. decreased their price objective on Phillips 66 from $160.00 to $141.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 2nd. Raymond James boosted their price objective on Phillips 66 from $150.00 to $155.00 and gave the company an "outperform" rating in a research note on Wednesday, July 31st. Mizuho decreased their target price on shares of Phillips 66 from $154.00 to $150.00 and set a "neutral" rating on the stock in a research note on Monday, September 16th. Finally, Scotiabank dropped their price target on shares of Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.69.

Phillips 66 Stock Up 0.9 %

PSX stock traded up $1.15 on Friday, hitting $130.91. 2,275,005 shares of the company's stock were exchanged, compared to its average volume of 2,662,619. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a market cap of $54.06 billion, a P/E ratio of 16.87, a price-to-earnings-growth ratio of 4.26 and a beta of 1.33. The firm has a 50 day moving average price of $129.70 and a two-hundred day moving average price of $135.96. Phillips 66 has a 12-month low of $111.90 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. During the same quarter last year, the company posted $4.63 earnings per share. The firm's revenue was down 10.3% compared to the same quarter last year. As a group, equities research analysts expect that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.51%. Phillips 66's dividend payout ratio is currently 59.05%.

Phillips 66 Company Profile

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.