Oppenheimer & Co. Inc. Buys 375 Shares of Phillips 66 (NYSE:PSX)

Oppenheimer & Co. Inc. boosted its stake in shares of Phillips 66 (NYSE:PSX) by 0.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,438 shares of the oil and gas company’s stock after acquiring an additional 375 shares during the period. Oppenheimer & Co. Inc.’s holdings in Phillips 66 were worth $5,578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PSX. Vanguard Group Inc. increased its holdings in shares of 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 worth $6,741,218,000 after purchasing an additional 1,578,669 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Phillips 66 by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after acquiring an additional 402,925 shares during the last quarter. Boston Partners raised its holdings in shares of Phillips 66 by 41.4% during the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after acquiring an additional 1,595,722 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Phillips 66 by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after acquiring an additional 18,238 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Phillips 66 by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock valued at $514,253,000 after purchasing an additional 111,261 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PSX has been the topic of a number of recent research reports. TD Cowen decreased their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Barclays decreased their target price on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday. Mizuho dropped their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Wells Fargo & Company lowered their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Finally, Raymond James boosted their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $149.69.

Phillips 66 Trading Down 0.1 %

NYSE:PSX opened at $129.76 on Friday. The firm has a 50-day simple moving average of $129.68 and a 200-day simple moving average of $136.00. Phillips 66 has a one year low of $111.90 and a one year high of $174.08. The firm has a market cap of $53.59 billion, a P/E ratio of 16.66, a P/E/G ratio of 4.26 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.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.63 earnings per share. Equities analysts anticipate that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.55%. Phillips 66’s dividend payout ratio is presently 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.