4,852 Shares in Phillips 66 (NYSE:PSX) Purchased by Neo Ivy Capital Management

Neo Ivy Capital Management purchased a new stake in Phillips 66 (NYSE:PSX - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,852 shares of the oil and gas company's stock, valued at approximately $638,000.

A number of other institutional investors also recently modified their holdings of the company. Mizuho Securities USA LLC raised its position in Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company's stock valued at $328,625,000 after buying an additional 2,467,316 shares during the last quarter. ING Groep NV grew its stake in shares of Phillips 66 by 123.2% during the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company's stock worth $155,503,000 after acquiring an additional 653,032 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company's stock worth $214,120,000 after acquiring an additional 633,970 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in shares of Phillips 66 in the third quarter valued at approximately $70,983,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Phillips 66 by 5.0% in the second 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 purchasing an additional 402,925 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PSX. Barclays decreased 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 research report on Monday, November 11th. Scotiabank decreased their price objective on Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. TD Cowen dropped their target price on Phillips 66 from $162.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. UBS Group reduced their price target on Phillips 66 from $150.00 to $138.00 and set a "buy" rating for the company in a research report on Monday, November 4th. Finally, Morgan Stanley lowered their price target on Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating on the stock in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $149.23.

Phillips 66 Stock Performance

PSX stock traded down $1.34 during midday trading on Thursday, reaching $123.99. 2,614,140 shares of the company were exchanged, compared to its average volume of 2,661,443. Phillips 66 has a one year low of $119.77 and a one year high of $174.08. The firm has a market capitalization of $51.21 billion, a price-to-earnings ratio of 16.09, a price-to-earnings-growth ratio of 4.24 and a beta of 1.35. The business has a 50-day moving average price of $130.48 and a two-hundred day moving average price of $134.12. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 net margin of 2.24% and a return on equity of 13.12%. Phillips 66's quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the company posted $4.63 EPS. Equities research analysts forecast that Phillips 66 will post 7.59 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a dividend of $1.15 per share. The ex-dividend date was Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.71%. Phillips 66's dividend payout ratio (DPR) is currently 59.05%.

About Phillips 66

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.