Phillips 66 (NYSE:PSX) Shares Acquired by Empower Advisory Group LLC

Empower Advisory Group LLC boosted its position in Phillips 66 (NYSE:PSX) by 9.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,463 shares of the oil and gas company’s stock after buying an additional 204 shares during the quarter. Empower Advisory Group LLC’s holdings in Phillips 66 were worth $324,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp lifted its holdings in Phillips 66 by 263.3% in the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after buying an additional 60,355 shares in the last quarter. Manning & Napier Advisors LLC acquired a new stake in shares of Phillips 66 in the 2nd quarter valued at about $17,670,000. M&G Plc acquired a new stake in shares of Phillips 66 in the 2nd quarter valued at about $3,596,000. Cetera Investment Advisers raised its stake in shares of Phillips 66 by 318.9% in the 1st quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company’s stock valued at $23,284,000 after purchasing an additional 108,515 shares in the last quarter. Finally, Olympiad Research LP acquired a new stake in shares of Phillips 66 in the 3rd quarter valued at about $607,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

NYSE PSX opened at $130.91 on Friday. Phillips 66 has a 52 week low of $111.90 and a 52 week high of $174.08. 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 stock has a market cap of $54.06 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 4.26 and a beta of 1.33. The company has a 50-day moving average price of $129.70 and a two-hundred day moving average price of $135.96.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the prior year, the firm earned $4.63 EPS. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. Analysts forecast that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Announces Dividend

The business 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 $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Barclays cut 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 note on Monday, November 11th. Morgan Stanley cut their target price on shares of 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. TD Cowen cut their target price 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. Bank of America started coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Finally, Scotiabank lowered their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $149.69.

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.