Phillips 66 (NYSE:PSX) Shares Sold by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP cut its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 99.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,361 shares of the oil and gas company's stock after selling 258,964 shares during the period. Kayne Anderson Capital Advisors LP's holdings in Phillips 66 were worth $179,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of PSX. Crewe Advisors LLC purchased a new position in Phillips 66 during the 1st quarter worth $25,000. Strategic Financial Concepts LLC acquired a new position in Phillips 66 during the second quarter worth about $26,000. nVerses Capital LLC purchased a new stake in shares of Phillips 66 in the third quarter valued at about $26,000. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 in the third quarter valued at approximately $30,000. Finally, Bank & Trust Co purchased a new position in shares of Phillips 66 during the 2nd quarter worth approximately $31,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of NYSE PSX traded up $1.54 during midday trading on Monday, hitting $131.32. The company's stock had a trading volume of 2,356,405 shares, compared to its average volume of 2,661,247. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 1-year low of $114.94 and a 1-year high of $174.08. The firm's fifty day moving average price is $129.82 and its 200-day moving average price is $135.64. The firm has a market cap of $54.23 billion, a P/E ratio of 16.86, a P/E/G ratio of 4.29 and a beta of 1.33.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. Phillips 66's quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.63 earnings per share. On average, sell-side analysts forecast that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Announces Dividend

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 given a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.50%. Phillips 66's dividend payout ratio is currently 59.05%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Raymond James increased 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. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a report on Thursday, October 17th. Mizuho lowered their price target on shares of Phillips 66 from $154.00 to $150.00 and set a "neutral" rating for the company in a report on Monday, September 16th. UBS Group lowered their target price on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating for the company in a research note on Monday, November 4th. Finally, Scotiabank cut their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of "Moderate Buy" and an average target price of $149.69.

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.