World Investment Advisors LLC Acquires New Position in Phillips 66 (NYSE:PSX)

World Investment Advisors LLC bought a new position in shares of Phillips 66 (NYSE:PSX - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,054 shares of the oil and gas company's stock, valued at approximately $796,000.

Other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp lifted its position 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 acquiring an additional 60,355 shares during the period. Mizuho Securities USA LLC lifted its holdings in shares of Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company's stock valued at $328,625,000 after purchasing an additional 2,467,316 shares during the last quarter. Nwam LLC bought a new stake in shares of Phillips 66 in the 3rd quarter worth approximately $498,000. Olympiad Research LP purchased a new stake in shares of Phillips 66 in the 3rd quarter worth approximately $607,000. Finally, Principal Financial Group Inc. increased its position in Phillips 66 by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company's stock valued at $69,775,000 after buying an additional 14,209 shares in the last quarter. Institutional investors own 76.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PSX shares. Bank of America assumed coverage on Phillips 66 in a report on Thursday, October 17th. They issued a "buy" rating and a $156.00 target price on the stock. Scotiabank cut their price objective 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. JPMorgan Chase & Co. decreased their target price on shares of Phillips 66 from $160.00 to $141.00 and set an "overweight" rating for the company in a report on Wednesday, October 2nd. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a report on Thursday, October 17th. Finally, Wells Fargo & Company decreased their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an "overweight" rating for the company in a report on Monday, December 9th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, Phillips 66 currently has an average rating of "Moderate Buy" and a consensus price target of $149.00.

Phillips 66 Stock Performance

NYSE:PSX traded down $0.46 on Tuesday, hitting $115.83. The stock had a trading volume of 3,568,077 shares, compared to its average volume of 2,665,833. The business's 50-day simple moving average is $129.42 and its two-hundred day simple moving average is $133.66. The stock has a market cap of $47.84 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 4.06 and a beta of 1.35. Phillips 66 has a 52-week low of $114.41 and a 52-week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data 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. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the firm posted $4.63 earnings per share. The firm's revenue was down 10.3% compared to the same quarter last year. As a group, research analysts predict that Phillips 66 will post 7.56 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a $1.15 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.97%. Phillips 66's dividend payout ratio (DPR) is 59.05%.

Phillips 66 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.