Phillips 66 (NYSE:PSX) Holdings Raised by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 80.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,490 shares of the oil and gas company's stock after buying an additional 10,058 shares during the period. Infrastructure Capital Advisors LLC's holdings in Phillips 66 were worth $2,956,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PSX. Mizuho Securities USA LLC boosted its position in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company's stock worth $328,625,000 after acquiring an additional 2,467,316 shares during the period. ING Groep NV lifted its holdings in Phillips 66 by 123.2% in the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company's stock worth $155,503,000 after purchasing an additional 653,032 shares during the period. Bank of Montreal Can grew its position in Phillips 66 by 63.4% in the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company's stock valued at $214,120,000 after buying an additional 633,970 shares in the last quarter. Mizuho Markets Americas LLC acquired a new position in Phillips 66 during the 3rd quarter valued at about $70,983,000. Finally, Bank of New York Mellon Corp raised its position 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 worth $1,189,035,000 after buying an additional 402,925 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Trading Up 0.5 %

Shares of PSX stock traded up $0.67 during trading hours on Friday, reaching $134.02. 1,402,352 shares of the stock traded hands, compared to its average volume of 2,657,253. 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 capitalization of $55.35 billion, a PE ratio of 17.20, a PEG ratio of 4.35 and a beta of 1.33. Phillips 66 has a 1-year low of $119.77 and a 1-year high of $174.08. The business has a fifty day moving average price of $130.68 and a 200 day moving average price of $134.99.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company's revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $4.63 EPS. On average, equities research analysts forecast that Phillips 66 will post 7.66 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $1.15 per share. 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 3.43%. Phillips 66's payout ratio is presently 59.05%.

Analysts Set New Price Targets

Several research firms have recently issued reports on PSX. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a report on Thursday, October 17th. Mizuho decreased their price target on Phillips 66 from $154.00 to $150.00 and set a "neutral" rating for the company in a research note on Monday, September 16th. Barclays dropped their price objective on Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating on the stock in a research note on Monday, November 11th. TD Cowen decreased their target price on Phillips 66 from $162.00 to $150.00 and set a "buy" rating for the company in a research note on Wednesday, September 11th. Finally, UBS Group dropped their price target on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.69.

Phillips 66 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.