1,549 Shares in Phillips 66 (NYSE:PSX) Bought by BIP Wealth LLC

BIP Wealth LLC purchased a new stake in Phillips 66 (NYSE:PSX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,549 shares of the oil and gas company’s stock, valued at approximately $204,000.

A number of other institutional investors also recently modified their holdings of PSX. Mizuho Securities USA LLC boosted its position in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after acquiring an additional 2,467,316 shares during the last quarter. Boston Partners boosted its holdings in Phillips 66 by 41.4% during the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after purchasing an additional 1,595,722 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position 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 purchasing an additional 1,408,954 shares in the last quarter. ING Groep NV increased its stake in Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after buying an additional 653,032 shares during the last quarter. Finally, Mizuho Markets Americas LLC bought a new stake in Phillips 66 during the 3rd quarter worth about $70,983,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Trading Down 0.3 %

Shares of PSX stock opened at $130.93 on Wednesday. Phillips 66 has a 12-month low of $114.94 and a 12-month high of $174.08. The firm has a 50 day moving average price of $129.90 and a two-hundred day moving average price of $135.55. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $54.07 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 4.29 and a beta of 1.33.

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, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same period in the prior year, the firm posted $4.63 EPS. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, analysts predict that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on PSX shares. Barclays decreased their price objective on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. UBS Group lowered their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Morgan Stanley dropped their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 presently has an average 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.