Mutual Advisors LLC Purchases 5,663 Shares of Phillips 66 (NYSE:PSX)

Mutual Advisors LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 63.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,551 shares of the oil and gas company's stock after purchasing an additional 5,663 shares during the period. Mutual Advisors LLC's holdings in Phillips 66 were worth $1,870,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Boston Partners boosted its holdings in Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company's stock worth $889,214,000 after acquiring an additional 1,595,722 shares in the last quarter. Vanguard Group Inc. raised its holdings in Phillips 66 by 4.0% during the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company's stock worth $6,741,218,000 after buying an additional 1,578,669 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Phillips 66 by 96.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company's stock valued at $467,743,000 after buying an additional 1,408,954 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Phillips 66 by 5.0% during 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 acquiring an additional 402,925 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its position in shares of Phillips 66 by 1,087.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 432,003 shares of the oil and gas company's stock worth $70,563,000 after acquiring an additional 395,617 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on PSX shares. Bank of America began coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a "buy" rating and a $156.00 price target for the company. TD Cowen dropped their price target on shares of Phillips 66 from $162.00 to $150.00 and set a "buy" rating on the stock in a research report on Wednesday, September 11th. Barclays decreased their price objective on shares of Phillips 66 from $138.00 to $133.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 8th. Raymond James upped their target price on Phillips 66 from $150.00 to $155.00 and gave the company an "outperform" rating in a report on Wednesday, July 31st. Finally, Wells Fargo & Company cut their price objective on Phillips 66 from $182.00 to $167.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 9th. Five investment analysts have rated the stock with a hold rating and ten have issued 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 $151.42.

Insiders Place Their Bets

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

Phillips 66 Price Performance

Phillips 66 stock traded down $1.81 during midday trading on Friday, reaching $120.01. 2,062,305 shares of the stock were exchanged, compared to its average volume of 2,675,607. Phillips 66 has a 52 week low of $110.54 and a 52 week high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 1.21. The firm has a market cap of $49.56 billion, a PE ratio of 15.64, a PEG ratio of 3.94 and a beta of 1.33. The company's fifty day moving average is $131.58 and its 200-day moving average is $138.09.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm's quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the company earned $4.63 earnings per share. On average, sell-side analysts forecast that Phillips 66 will post 7.75 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently announced 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 annualized dividend and a yield of 3.83%. Phillips 66's payout ratio is presently 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.