Victory Capital Management Inc. Increases Stake in Phillips 66 (NYSE:PSX)

Victory Capital Management Inc. boosted its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 27.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 625,290 shares of the oil and gas company's stock after buying an additional 135,142 shares during the period. Victory Capital Management Inc. owned 0.15% of Phillips 66 worth $82,194,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of PSX. Boston Partners increased its position in shares of Phillips 66 by 41.4% during the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company's stock worth $889,214,000 after purchasing an additional 1,595,722 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Phillips 66 by 4.0% in the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company's stock worth $6,741,218,000 after acquiring an additional 1,578,669 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Phillips 66 by 96.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company's stock worth $467,743,000 after acquiring an additional 1,408,954 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Phillips 66 by 5.0% during the second 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 acquiring an additional 402,925 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Phillips 66 by 1,087.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 432,003 shares of the oil and gas company's stock valued at $70,563,000 after purchasing an additional 395,617 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Performance

PSX traded down $0.15 on Thursday, reaching $129.76. The stock had a trading volume of 2,256,679 shares, compared to its average volume of 2,664,371. The business's 50-day moving average price is $129.68 and its two-hundred day moving average price is $136.00. 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 has a 12-month low of $111.90 and a 12-month high of $174.08. The company has a market cap of $53.59 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 4.18 and a beta of 1.33.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 13.12% and a net margin of 2.24%. Phillips 66's revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.63 earnings per share. Sell-side analysts forecast that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66's dividend payout ratio is presently 59.05%.

Wall Street Analyst Weigh In

PSX has been the topic of several research analyst reports. Scotiabank dropped their target price on shares of Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 10th. UBS Group cut their target price on Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. JPMorgan Chase & Co. lowered their price target on Phillips 66 from $160.00 to $141.00 and set an "overweight" rating for the company in a research report on Wednesday, October 2nd. Wells Fargo & Company cut their price objective on Phillips 66 from $182.00 to $167.00 and set an "overweight" rating on the stock in a report on Wednesday, October 9th. Finally, Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They set a "buy" rating and a $156.00 target price for the company. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $149.69.

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.