Stonegate Investment Group LLC Buys 11,396 Shares of Phillips 66 (NYSE:PSX)

Stonegate Investment Group LLC grew its position in Phillips 66 (NYSE:PSX - Free Report) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 513,289 shares of the oil and gas company's stock after purchasing an additional 11,396 shares during the quarter. Phillips 66 makes up approximately 1.8% of Stonegate Investment Group LLC's portfolio, making the stock its 21st largest holding. Stonegate Investment Group LLC owned 0.12% of Phillips 66 worth $67,472,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Manning & Napier Advisors LLC bought a new stake in shares of Phillips 66 in the second quarter valued at approximately $17,670,000. M&G Plc bought a new position in shares of Phillips 66 during the 2nd quarter worth about $3,596,000. Duality Advisers LP bought a new position in shares of Phillips 66 during the 1st quarter worth about $3,596,000. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Phillips 66 by 42.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company's stock valued at $21,844,000 after buying an additional 39,775 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its stake in shares of Phillips 66 by 69.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company's stock valued at $6,175,000 after buying an additional 15,542 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of PSX stock traded down $0.75 during trading hours on Friday, hitting $132.60. 1,703,880 shares of the company's stock were exchanged, compared to its average volume of 2,687,191. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The stock has a market cap of $55.50 billion, a price-to-earnings ratio of 11.37, a price-to-earnings-growth ratio of 5.75 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The stock's 50-day moving average is $133.18 and its 200-day moving average is $140.63.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same quarter in the prior year, the firm earned $3.87 EPS. The company's revenue was up 8.9% on a year-over-year basis. As a group, research analysts forecast that Phillips 66 will post 7.85 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders 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 3.47%. The ex-dividend date is Monday, November 18th. Phillips 66's dividend payout ratio is 39.45%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on PSX shares. Bank of America began coverage on Phillips 66 in a research note on Thursday. They set a "buy" rating and a $156.00 price target on the stock. Morgan Stanley cut their target price on Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating for the company in a research note on Monday, September 16th. Scotiabank decreased their price target on shares of 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. Wells Fargo & Company dropped their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an "overweight" rating for the company in a research note on Wednesday, October 9th. Finally, Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research report on Thursday. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, Phillips 66 presently has a consensus rating of "Moderate Buy" and an average price target of $149.50.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.22% of the company's stock.

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.