Capital Advisors Ltd. LLC Reduces Holdings in Phillips 66 (NYSE:PSX)

Capital Advisors Ltd. LLC cut its position in Phillips 66 (NYSE:PSX) by 8.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,253 shares of the oil and gas company’s stock after selling 111 shares during the quarter. Capital Advisors Ltd. LLC’s holdings in Phillips 66 were worth $165,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PSX. Crewe Advisors LLC acquired a new position in Phillips 66 in the first quarter valued at $25,000. Keener Financial Planning LLC acquired a new position in Phillips 66 in the 1st quarter valued at $26,000. Redmont Wealth Advisors LLC acquired a new position in Phillips 66 in the 1st quarter valued at $28,000. Ruedi Wealth Management Inc. raised its position in Phillips 66 by 102.1% during the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after buying an additional 96 shares during the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the 3rd quarter worth $26,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PSX shares. Morgan Stanley cut their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Raymond James lifted their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. TD Cowen decreased their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Bank of America initiated coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. Finally, Barclays lowered their target price on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $149.50.

Phillips 66 Price Performance

PSX stock opened at $128.17 on Monday. The stock has a market capitalization of $54.34 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 5.61 and a beta of 1.33. The stock’s fifty day simple moving average is $132.43 and its 200-day simple moving average is $138.85. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same period last year, the company earned $3.87 EPS. The firm’s quarterly revenue was up 8.9% on a year-over-year basis. Equities research analysts expect that Phillips 66 will post 7.81 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.59%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.22% of the stock is currently owned by insiders.

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.