Vinva Investment Management Ltd Acquires Shares of 5,345 Phillips 66 (NYSE:PSX)

Vinva Investment Management Ltd bought a new stake in Phillips 66 (NYSE:PSX - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 5,345 shares of the oil and gas company's stock, valued at approximately $700,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PSX. Strategic Financial Concepts LLC purchased a new stake in shares of Phillips 66 in the second quarter worth $26,000. nVerses Capital LLC purchased a new stake in shares of Phillips 66 in the 3rd quarter worth about $26,000. Values First Advisors Inc. bought a new stake in Phillips 66 in the third quarter worth $30,000. Bank & Trust Co purchased a new stake in Phillips 66 during the 2nd quarter valued at $31,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Phillips 66 in the second quarter worth $34,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have weighed in on PSX shares. Morgan Stanley cut their price target on Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. UBS Group cut their price target on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a report on Monday, November 4th. Piper Sandler set a $144.00 price target on Phillips 66 in a report on Thursday, October 17th. Bank of America assumed coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a "buy" rating and a $156.00 price target for the company. Finally, Wells Fargo & Company cut their target price on Phillips 66 from $182.00 to $167.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $149.69.

Phillips 66 Stock Up 0.5 %

PSX stock traded up $0.63 during mid-day trading on Friday, hitting $133.98. 1,402,352 shares of the company were exchanged, compared to its average volume of 2,362,879. 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 company has a market capitalization of $55.33 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 4.37 and a beta of 1.33. Phillips 66 has a twelve month low of $119.77 and a twelve month high of $174.08. The firm has a fifty day simple moving average of $130.68 and a 200 day simple moving average of $134.92.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analysts' expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66's quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the company earned $4.63 EPS. On average, research analysts forecast that Phillips 66 will post 7.66 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.43%. Phillips 66's payout ratio 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.