Phillips 66 (NYSE:PSX) Shares Sold by Versor Investments LP

Versor Investments LP cut its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 58.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,800 shares of the oil and gas company's stock after selling 5,338 shares during the period. Versor Investments LP's holdings in Phillips 66 were worth $500,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PSX. Vanguard Group Inc. increased its stake in shares of 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 valued at $6,741,218,000 after buying an additional 1,578,669 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Phillips 66 by 5.0% in the 2nd 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 purchasing an additional 402,925 shares during the last quarter. Boston Partners lifted its stake in shares of Phillips 66 by 41.4% during the 1st 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 during the last quarter. Legal & General Group Plc raised its position in Phillips 66 by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company's stock valued at $522,240,000 after purchasing an additional 18,238 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings 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 valued at $514,253,000 after acquiring an additional 111,261 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on PSX. Raymond James increased their price target on Phillips 66 from $150.00 to $155.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 31st. Piper Sandler set a $144.00 price target on Phillips 66 in a report on Thursday, October 17th. Mizuho cut their target price on Phillips 66 from $154.00 to $150.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. TD Cowen dropped 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. Finally, Barclays reduced their price target on Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating on the stock in a research note on Monday. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $149.69.

Phillips 66 Trading Up 0.9 %

PSX stock traded up $1.15 during midday trading on Friday, reaching $130.91. The company's stock had a trading volume of 2,238,148 shares, compared to its average volume of 2,662,453. The firm has a market capitalization of $54.06 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 4.26 and a beta of 1.33. 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 $111.90 and a 1 year high of $174.08. The stock has a fifty day simple moving average of $129.70 and a two-hundred day simple moving average of $135.96.

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 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 business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the prior year, the firm posted $4.63 EPS. The business's quarterly revenue was down 10.3% compared to the same quarter last year. On average, equities research analysts predict that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66's dividend payout ratio (DPR) is 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.