Van ECK Associates Corp Purchases 60,355 Shares of Phillips 66 (NYSE:PSX)

Van ECK Associates Corp grew its holdings in Phillips 66 (NYSE:PSX - Free Report) by 263.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 83,278 shares of the oil and gas company's stock after acquiring an additional 60,355 shares during the quarter. Van ECK Associates Corp's holdings in Phillips 66 were worth $10,753,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $25,000. Strategic Financial Concepts LLC bought a new stake in Phillips 66 in the 2nd quarter valued at $26,000. nVerses Capital LLC acquired a new position in shares of Phillips 66 in the 3rd quarter valued at $26,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 during the 3rd quarter worth about $30,000. Finally, Bank & Trust Co acquired a new stake in shares of Phillips 66 during the 2nd quarter valued at about $31,000. Institutional investors own 76.93% of the company's stock.

Insider Transactions at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.22% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PSX has been the subject of a number of analyst reports. TD Cowen cut their price target on shares of Phillips 66 from $162.00 to $150.00 and set a "buy" rating for the company in a research note on Wednesday, September 11th. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $182.00 to $167.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 9th. Barclays cut their target price 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. Scotiabank decreased their price target on Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 10th. Finally, Bank of America started coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a "buy" rating and a $156.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $150.38.

Phillips 66 Trading Down 1.0 %

NYSE:PSX traded down $1.22 during trading hours on Thursday, hitting $126.68. The stock had a trading volume of 1,615,963 shares, compared to its average volume of 2,665,515. The company has a market cap of $52.32 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 3.94 and a beta of 1.33. Phillips 66 has a one year low of $110.54 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The business's 50 day moving average is $130.59 and its 200-day moving average is $137.00.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business's quarterly revenue was down 10.3% on a year-over-year basis. During the same period last year, the company posted $4.63 EPS. Sell-side analysts anticipate that Phillips 66 will post 7.69 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.63%. Phillips 66's dividend payout ratio (DPR) is 59.05%.

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.