D.A. Davidson & CO. Sells 13,393 Shares of Phillips 66 (NYSE:PSX)

D.A. Davidson & CO. lessened its stake in Phillips 66 (NYSE:PSX - Free Report) by 17.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 61,943 shares of the oil and gas company's stock after selling 13,393 shares during the period. D.A. Davidson & CO.'s holdings in Phillips 66 were worth $8,143,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PSX. Mizuho Securities USA LLC raised its stake in shares of 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 worth $328,625,000 after buying an additional 2,467,316 shares in the last quarter. Boston Partners lifted its holdings in Phillips 66 by 41.4% in the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company's stock valued at $889,214,000 after acquiring an additional 1,595,722 shares during the last quarter. ING Groep NV boosted its position 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 valued at $155,503,000 after purchasing an additional 653,032 shares in the last quarter. Bank of Montreal Can grew its stake in shares of Phillips 66 by 63.4% in 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 purchasing an additional 633,970 shares during the last quarter. Finally, Mizuho Markets Americas LLC bought a new stake in shares of Phillips 66 in the 3rd quarter worth approximately $70,983,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PSX shares. Morgan Stanley reduced their target price on shares of Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. Piper Sandler set a $144.00 price objective on Phillips 66 in a research note on Thursday, October 17th. TD Cowen cut their target price on Phillips 66 from $162.00 to $150.00 and set a "buy" rating on the stock in a research report on Wednesday, September 11th. Wells Fargo & Company decreased their price target on Phillips 66 from $182.00 to $167.00 and set an "overweight" rating for the company in a research report on Wednesday, October 9th. Finally, Barclays cut their price objective on Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating on the stock in a report on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of "Moderate Buy" and a consensus price target of $149.69.

Phillips 66 Stock Down 0.7 %

PSX stock traded down $0.94 during midday trading on Wednesday, reaching $133.31. The company had a trading volume of 2,151,389 shares, compared to its average volume of 2,662,707. The company has a 50 day moving average of $130.58 and a two-hundred day moving average of $135.07. The company has a market capitalization of $55.06 billion, a P/E ratio of 17.11, a PEG ratio of 4.40 and a beta of 1.33. Phillips 66 has a 1 year low of $117.74 and a 1 year high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm earned $4.63 earnings per share. The business's revenue for the quarter was down 10.3% on a year-over-year basis. On average, equities research analysts expect that Phillips 66 will post 7.57 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 yield of 3.45%. Phillips 66's dividend payout ratio is currently 59.05%.

Phillips 66 Company 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.