Orion Portfolio Solutions LLC Cuts Position in Phillips 66 (NYSE:PSX)

Orion Portfolio Solutions LLC lessened its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 18.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,542 shares of the oil and gas company's stock after selling 4,247 shares during the period. Orion Portfolio Solutions LLC's holdings in Phillips 66 were worth $2,437,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSX. Bank of New York Mellon Corp raised its holdings 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 valued at $1,189,035,000 after acquiring an additional 402,925 shares in the last quarter. Legal & General Group Plc raised its holdings in Phillips 66 by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company's stock worth $522,240,000 after purchasing an additional 18,238 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Phillips 66 by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company's stock worth $514,253,000 after purchasing an additional 111,261 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Phillips 66 by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company's stock valued at $381,453,000 after purchasing an additional 16,941 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Phillips 66 by 2.9% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company's stock valued at $397,193,000 after buying an additional 79,301 shares during the period. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Performance

NYSE PSX traded down $1.34 on Thursday, hitting $123.99. 2,614,140 shares of the company traded hands, compared to its average volume of 2,661,327. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The business's 50 day moving average price is $130.48 and its 200-day moving average price is $134.12. The company has a market capitalization of $51.21 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 4.24 and a beta of 1.35. Phillips 66 has a 52-week low of $119.77 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. During the same quarter last year, the business posted $4.63 earnings per share. The firm's revenue was down 10.3% on a year-over-year basis. Equities analysts expect that Phillips 66 will post 7.59 earnings per share for the current year.

Phillips 66 Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts have commented on PSX shares. JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an "overweight" rating for the company in a report on Wednesday, October 2nd. Morgan Stanley lowered 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. UBS Group reduced their price target 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. Mizuho lowered their price objective on Phillips 66 from $154.00 to $150.00 and set a "neutral" rating for the company in a research report on Monday, September 16th. Finally, TD Cowen reduced their target price 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. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, Phillips 66 has an average rating of "Moderate Buy" and a consensus target price of $149.23.

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.