Phillips 66 (NYSE:PSX) Shares Bought by WCM Investment Management LLC

WCM Investment Management LLC increased its position in Phillips 66 (NYSE:PSX - Free Report) by 310.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,890 shares of the oil and gas company's stock after acquiring an additional 7,480 shares during the period. WCM Investment Management LLC's holdings in Phillips 66 were worth $1,296,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of PSX. Van ECK Associates Corp grew its holdings in Phillips 66 by 263.3% during the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company's stock valued at $10,753,000 after buying an additional 60,355 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in Phillips 66 during the 2nd quarter valued at $17,670,000. M&G Plc acquired a new stake in Phillips 66 during the 2nd quarter valued at $3,596,000. Cetera Investment Advisers boosted its holdings in shares of Phillips 66 by 318.9% during the first quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company's stock worth $23,284,000 after purchasing an additional 108,515 shares during the last quarter. Finally, Blair William & Co. IL boosted its holdings in shares of Phillips 66 by 4.5% during the first quarter. Blair William & Co. IL now owns 187,152 shares of the oil and gas company's stock worth $30,569,000 after purchasing an additional 8,102 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Stock Up 1.7 %

Shares of NYSE PSX traded up $2.13 during midday trading on Wednesday, reaching $129.83. 655,660 shares of the company's stock were exchanged, compared to its average volume of 2,660,286. Phillips 66 has a 52-week low of $111.90 and a 52-week high of $174.08. The stock has a market capitalization of $53.62 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 4.18 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. The business's fifty day moving average price is $129.73 and its two-hundred day moving average price is $136.04.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its 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 business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company's revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $4.63 earnings per share. Analysts forecast that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.54%. Phillips 66's dividend payout ratio (DPR) is 59.05%.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.22% of the company's stock.

Analyst Ratings Changes

PSX has been the topic of several analyst reports. Piper Sandler set a $144.00 price objective on Phillips 66 in a report on Thursday, October 17th. Wolfe Research assumed coverage on Phillips 66 in a research report on Thursday, July 18th. They issued a "peer perform" rating on the stock. Morgan Stanley cut their target price on Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating on the stock in a research report on Monday, September 16th. 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 report on Wednesday, October 9th. Finally, Barclays cut their target price on Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating on the stock in a research report on Monday. 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 company presently has a consensus rating of "Moderate Buy" and an average target price of $149.69.

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.