Vectors Research Management LLC Decreases Stock Holdings in Phillips 66 (NYSE:PSX)

Vectors Research Management LLC reduced its position in shares of Phillips 66 (NYSE:PSX) by 8.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,228 shares of the oil and gas company’s stock after selling 310 shares during the period. Vectors Research Management LLC’s holdings in Phillips 66 were worth $428,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Mitchell & Pahl Private Wealth LLC raised its stake in shares of Phillips 66 by 0.4% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock valued at $2,519,000 after acquiring an additional 74 shares in the last quarter. Catalyst Financial Partners LLC grew its stake in shares of Phillips 66 by 5.1% during the 2nd quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after purchasing an additional 74 shares during the period. Advisory Alpha LLC boosted its position in Phillips 66 by 4.8% during the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after purchasing an additional 76 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its stake in Phillips 66 by 1.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock valued at $616,000 after buying an additional 77 shares in the last quarter. Finally, Krane Funds Advisors LLC increased its stake in Phillips 66 by 3.6% in the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 82 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a report on Thursday, October 17th. Wolfe Research initiated coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. TD Cowen decreased their target price on 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 shares of Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Stock Down 0.1 %

Shares of NYSE PSX opened at $129.76 on Friday. The stock has a fifty day moving average price of $129.68 and a 200 day moving average price of $136.00. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company 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. Phillips 66 has a 12-month low of $111.90 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same period last year, the firm earned $4.63 EPS. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. Research 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 paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.55%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is 59.05%.

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.