Spirit of America Management Corp NY Decreases Stock Holdings in Phillips 66 (NYSE:PSX)

Spirit of America Management Corp NY reduced its stake in shares of Phillips 66 (NYSE:PSX) by 13.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,786 shares of the oil and gas company’s stock after selling 12,550 shares during the quarter. Phillips 66 comprises about 2.2% of Spirit of America Management Corp NY’s portfolio, making the stock its 7th biggest position. Spirit of America Management Corp NY’s holdings in Phillips 66 were worth $10,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of PSX. Boston Partners boosted its stake in Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after acquiring an additional 1,595,722 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 valued at $6,741,218,000 after acquiring an additional 1,578,669 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Phillips 66 by 96.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after acquiring an additional 1,408,954 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Phillips 66 by 5.0% in 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 during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Phillips 66 by 1,087.3% in the first 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 acquiring an additional 395,617 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were 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 owns 81,937 shares of the company’s stock, 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 hyperlink. 0.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PSX shares. Wells Fargo & Company cut their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Raymond James increased their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a report on Thursday, October 17th. Bank of America started coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Finally, Mizuho cut their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.50.

Phillips 66 Stock Down 0.5 %

Phillips 66 stock opened at $128.49 on Friday. The company has a market cap of $53.78 billion, a P/E ratio of 11.02, a price-to-earnings-growth ratio of 5.61 and a beta of 1.33. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08. The company has a fifty day simple moving average of $132.85 and a 200 day simple moving average of $139.57. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter last year, the firm earned $3.87 earnings per share. Research analysts anticipate that Phillips 66 will post 7.81 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is currently 39.45%.

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.