Prime Capital Investment Advisors LLC raised its position in shares of Phillips 66 (NYSE:PSX) by 5.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,133 shares of the oil and gas company’s stock after acquiring an additional 104 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Phillips 66 were worth $218,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in PSX. Capital Advisors Ltd. LLC increased its position in shares of Phillips 66 by 12.3% during the third quarter. Capital Advisors Ltd. LLC now owns 852 shares of the oil and gas company’s stock worth $87,000 after purchasing an additional 93 shares in the last quarter. Somerset Trust Co raised its holdings in Phillips 66 by 0.5% during the 3rd quarter. Somerset Trust Co now owns 18,425 shares of the oil and gas company’s stock worth $1,887,000 after purchasing an additional 98 shares during the last quarter. Investors Asset Management of Georgia Inc. GA ADV raised its holdings in Phillips 66 by 2.5% during the 3rd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 4,064 shares of the oil and gas company’s stock worth $416,000 after purchasing an additional 100 shares during the last quarter. Heritage Wealth Advisors raised its holdings in Phillips 66 by 25.2% during the 3rd quarter. Heritage Wealth Advisors now owns 502 shares of the oil and gas company’s stock worth $51,000 after purchasing an additional 101 shares during the last quarter. Finally, Montecito Bank & Trust raised its holdings in Phillips 66 by 4.1% during the 2nd quarter. Montecito Bank & Trust now owns 2,679 shares of the oil and gas company’s stock worth $250,000 after purchasing an additional 105 shares during the last quarter. 69.11% of the stock is owned by institutional investors and hedge funds.
Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of Phillips 66 from $126.00 to $115.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Morgan Stanley raised their price target on shares of Phillips 66 from $115.00 to $125.00 and gave the stock an “equal weight” rating in a report on Monday. Cowen raised their price target on shares of Phillips 66 from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Evercore ISI assumed coverage on shares of Phillips 66 in a report on Wednesday, October 2nd. They set an “outperform” rating for the company. Finally, Raymond James raised their price target on shares of Phillips 66 from $117.00 to $120.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company’s stock. Phillips 66 has a consensus rating of “Buy” and a consensus target price of $119.80.
In other news, EVP Robert A. Herman sold 47,433 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $103.17, for a total value of $4,893,662.61. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.13% of the stock is owned by company insiders.
Shares of NYSE PSX traded up $0.68 during trading on Wednesday, hitting $118.78. The company had a trading volume of 36,524 shares, compared to its average volume of 2,624,317. The stock has a 50 day simple moving average of $109.42 and a 200 day simple moving average of $98.02. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.84 and a current ratio of 1.29. Phillips 66 has a 12 month low of $78.44 and a 12 month high of $119.92. The firm has a market capitalization of $52.62 billion, a P/E ratio of 10.14, a price-to-earnings-growth ratio of 2.11 and a beta of 1.10.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, October 25th. The oil and gas company reported $3.11 EPS for the quarter, topping the consensus estimate of $2.60 by $0.51. Phillips 66 had a return on equity of 19.31% and a net margin of 4.17%. The firm had revenue of $27.77 billion for the quarter, compared to the consensus estimate of $28.31 billion. During the same quarter last year, the company earned $3.10 earnings per share. As a group, analysts predict that Phillips 66 will post 8.73 EPS for the current year.
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 $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Friday, November 15th. Phillips 66’s dividend payout ratio (DPR) is currently 30.74%.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.
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