Fortem Financial Group LLC reduced its stake in Phillips 66 (NYSE:PSX - Free Report) by 81.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,393 shares of the oil and gas company's stock after selling 10,838 shares during the period. Fortem Financial Group LLC's holdings in Phillips 66 were worth $315,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in PSX. Strategic Financial Concepts LLC acquired a new position in Phillips 66 during the second quarter worth about $26,000. nVerses Capital LLC acquired a new position in shares of Phillips 66 in the 3rd quarter worth approximately $26,000. Values First Advisors Inc. bought a new stake in shares of Phillips 66 in the 3rd quarter worth approximately $30,000. Kings Path Partners LLC acquired a new stake in Phillips 66 during the second quarter valued at approximately $38,000. Finally, Industrial Alliance Investment Management Inc. bought a new stake in Phillips 66 during the second quarter worth approximately $40,000. 76.93% of the stock is currently owned by institutional investors.
Phillips 66 Stock Down 1.1 %
Shares of NYSE:PSX traded down $1.34 during trading on Thursday, reaching $123.99. 2,614,140 shares of the company traded hands, compared to its average volume of 2,661,443. Phillips 66 has a 1-year low of $119.77 and a 1-year high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm has a market cap of $51.21 billion, a P/E ratio of 16.09, a price-to-earnings-growth ratio of 4.24 and a beta of 1.35. The firm has a fifty day simple moving average of $130.48 and a 200 day simple moving average of $134.12.
Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the previous year, the company posted $4.63 earnings per share. The business's quarterly revenue was down 10.3% compared to the same quarter last year. Analysts anticipate that Phillips 66 will post 7.59 earnings per share for the current fiscal year.
Phillips 66 Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.71%. The ex-dividend date was Monday, November 18th. Phillips 66's payout ratio is presently 59.05%.
Analysts Set New Price Targets
Several research analysts have issued reports on the company. Morgan Stanley dropped their price target on Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating on the stock in a report on Monday, September 16th. JPMorgan Chase & Co. cut their target price on Phillips 66 from $160.00 to $141.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 2nd. Piper Sandler set a $144.00 price target on Phillips 66 in a research report on Thursday, October 17th. Barclays cut their price objective on Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating on the stock in a report on Monday, November 11th. Finally, Bank of America initiated coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a "buy" rating and a $156.00 target price for the company. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Phillips 66 has a consensus rating of "Moderate Buy" and an average target price of $149.23.
View Our Latest Stock Report on PSX
About Phillips 66
(
Free Report)
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.
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