Intech Investment Management LLC raised its position in Phillips 66 (NYSE:PSX - Free Report) by 21.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,260 shares of the oil and gas company's stock after buying an additional 31,039 shares during the quarter. Intech Investment Management LLC's holdings in Phillips 66 were worth $23,301,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Crewe Advisors LLC bought a new stake in shares of Phillips 66 in the first quarter valued at $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Phillips 66 during the 2nd quarter valued at $26,000. nVerses Capital LLC bought a new stake in shares of Phillips 66 during the 3rd quarter valued at $26,000. Values First Advisors Inc. bought a new stake in shares of Phillips 66 during the 3rd quarter valued at $30,000. Finally, Bank & Trust Co bought a new stake in shares of Phillips 66 during the 2nd quarter valued at $31,000. 76.93% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms recently issued reports on PSX. Mizuho decreased their price objective on Phillips 66 from $154.00 to $150.00 and set a "neutral" rating on the stock in a research note on Monday, September 16th. Scotiabank decreased their price objective on Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating on the stock in a research note on Thursday, October 10th. UBS Group decreased their target price on Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Piper Sandler set a $144.00 target price on Phillips 66 in a research note on Thursday, October 17th. Finally, Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a "buy" rating and a $156.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $149.69.
Check Out Our Latest Research Report on PSX
Phillips 66 Price Performance
PSX opened at $131.41 on Thursday. The stock has a market capitalization of $54.27 billion, a P/E ratio of 16.87, a PEG ratio of 4.29 and a beta of 1.33. Phillips 66 has a 12-month low of $114.94 and a 12-month high of $174.08. The stock has a 50-day moving average price of $130.03 and a 200-day moving average price of $135.52. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.
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 for the quarter, beating the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. Phillips 66's quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the business posted $4.63 EPS. Equities analysts predict that Phillips 66 will post 7.63 earnings per share for the current fiscal year.
Phillips 66 Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66's dividend payout ratio is presently 59.05%.
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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