Quantinno Capital Management LP increased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 35.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 26,098 shares of the oil and gas company's stock after acquiring an additional 6,841 shares during the period. Quantinno Capital Management LP's holdings in Phillips 66 were worth $3,431,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC acquired a new position in shares of Phillips 66 during the 2nd quarter worth $26,000. nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the 3rd quarter valued at approximately $26,000. Values First Advisors Inc. bought a new stake in shares of Phillips 66 during the 3rd quarter valued at approximately $30,000. Kings Path Partners LLC bought a new stake in shares of Phillips 66 during the 2nd quarter valued at approximately $38,000. Finally, Industrial Alliance Investment Management Inc. acquired a new position in Phillips 66 during the 2nd quarter worth approximately $40,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.
Phillips 66 Trading Down 2.9 %
NYSE PSX traded down $3.74 during trading hours on Tuesday, hitting $126.34. 1,684,575 shares of the company's stock were exchanged, compared to its average volume of 2,655,558. Phillips 66 has a 1-year low of $119.77 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. The stock has a 50-day simple moving average of $130.81 and a 200 day simple moving average of $134.30. The firm has a market cap of $52.18 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 4.24 and a beta of 1.35.
Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm 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 business earned $4.63 earnings per share. The business's quarterly revenue was down 10.3% compared to the same quarter last year. On average, equities analysts forecast that Phillips 66 will post 7.59 EPS for the current fiscal year.
Phillips 66 Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend was Monday, November 18th. Phillips 66's dividend payout ratio is currently 59.05%.
Analysts Set New Price Targets
A number of analysts have weighed in on PSX shares. TD Cowen decreased 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 note on Wednesday, September 11th. Scotiabank lowered their target price on Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating for the company in a report on Thursday, October 10th. Piper Sandler set a $144.00 price target on Phillips 66 in a research note on Thursday, October 17th. Barclays lowered their price objective on Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating for the company in a research note on Monday, November 11th. Finally, Wells Fargo & Company cut their target price on shares of Phillips 66 from $167.00 to $161.00 and set an "overweight" rating on the stock in a research report on Monday. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $149.23.
View Our Latest Analysis on Phillips 66
About Phillips 66
(
Free Report)
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.
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