West Family Investments Inc. Increases Position in Phillips 66 (NYSE:PSX)

West Family Investments Inc. lifted its stake in shares of Phillips 66 (NYSE:PSX) by 6.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,612 shares of the oil and gas company’s stock after acquiring an additional 97 shares during the period. West Family Investments Inc.’s holdings in Phillips 66 were worth $212,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PSX. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Phillips 66 in the 3rd quarter valued at about $4,839,000. BIP Wealth LLC bought a new stake in shares of Phillips 66 in the third quarter worth $204,000. Prospera Financial Services Inc lifted its holdings in Phillips 66 by 6.8% during the 3rd quarter. Prospera Financial Services Inc now owns 29,040 shares of the oil and gas company’s stock worth $3,820,000 after buying an additional 1,849 shares during the last quarter. Verity & Verity LLC raised its holdings in shares of Phillips 66 by 3.7% during the third quarter. Verity & Verity LLC now owns 67,541 shares of the oil and gas company’s stock worth $8,878,000 after purchasing an additional 2,416 shares during the period. Finally, OneAscent Financial Services LLC bought a new stake in shares of Phillips 66 in the 3rd quarter worth approximately $359,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $130.93 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market cap 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. The firm has a fifty day moving average price of $129.90 and a two-hundred day moving average price of $135.55. Phillips 66 has a fifty-two week low of $114.94 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (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 company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period last year, the business earned $4.63 earnings per share. The business’s revenue was down 10.3% on a year-over-year basis. Analysts expect that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently commented on PSX. Raymond James raised their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Piper Sandler set a $144.00 target price on Phillips 66 in a report on Thursday, October 17th. Scotiabank cut their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Mizuho decreased their price objective 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. Finally, UBS Group lowered their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.