Phillips 66 (NYSE:PSX) Shares Acquired by Synovus Financial Corp

Synovus Financial Corp raised its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 25.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,554 shares of the oil and gas company's stock after buying an additional 5,376 shares during the period. Synovus Financial Corp's holdings in Phillips 66 were worth $3,490,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. raised its stake in shares of Phillips 66 by 37.8% in the second quarter. Blue Trust Inc. now owns 3,763 shares of the oil and gas company's stock worth $531,000 after purchasing an additional 1,033 shares during the last quarter. MONECO Advisors LLC lifted its position in Phillips 66 by 2.6% in the second quarter. MONECO Advisors LLC now owns 6,512 shares of the oil and gas company's stock valued at $919,000 after buying an additional 168 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Phillips 66 by 13.2% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 12,182 shares of the oil and gas company's stock worth $1,720,000 after purchasing an additional 1,424 shares during the period. Apollon Wealth Management LLC boosted its stake in shares of Phillips 66 by 10.8% in the second quarter. Apollon Wealth Management LLC now owns 12,777 shares of the oil and gas company's stock valued at $1,804,000 after purchasing an additional 1,249 shares during the period. Finally, Raymond James Financial Services Advisors Inc. grew its stake in shares of Phillips 66 by 0.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 705,226 shares of the oil and gas company's stock worth $99,557,000 after acquiring an additional 3,130 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Price Performance

Shares of NYSE PSX traded down $1.27 during midday trading on Friday, reaching $122.72. 1,825,767 shares of the stock traded hands, compared to its average volume of 2,657,969. The stock has a market capitalization of $50.68 billion, a PE ratio of 15.75, a P/E/G ratio of 4.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company's 50 day moving average is $129.86 and its 200 day moving average is $133.85. Phillips 66 has a one year low of $119.77 and a one year high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. The company 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%. Phillips 66's revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.63 EPS. On average, equities research analysts anticipate that Phillips 66 will post 7.56 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a dividend of $1.15 per share. The ex-dividend date was Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.75%. Phillips 66's payout ratio is 59.05%.

Analyst Ratings Changes

Several equities analysts recently issued reports on PSX shares. Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They set a "buy" rating and a $156.00 price objective for the company. 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 note on Monday, December 9th. TD Cowen lowered 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 report on Wednesday, September 11th. Morgan Stanley cut their target price on Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating for the company in a research report on Monday, September 16th. Finally, Mizuho cut their price target on shares of Phillips 66 from $154.00 to $150.00 and set a "neutral" rating on the stock in a report on Monday, September 16th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat, Phillips 66 has an average rating of "Moderate Buy" and a consensus target price of $149.23.

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.