MTM Investment Management LLC Sells 200 Shares of Phillips 66 (NYSE:PSX)

MTM Investment Management LLC decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 5.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,349 shares of the oil and gas company’s stock after selling 200 shares during the period. MTM Investment Management LLC’s holdings in Phillips 66 were worth $464,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Crewe Advisors LLC purchased a new position in Phillips 66 during the first quarter valued at $25,000. Strategic Financial Concepts LLC bought a new position in shares of Phillips 66 during the second quarter valued at $26,000. nVerses Capital LLC purchased a new position in shares of Phillips 66 in the 3rd quarter worth about $26,000. Values First Advisors Inc. purchased a new position in shares of Phillips 66 in the 3rd quarter worth about $30,000. Finally, Bank & Trust Co bought a new position in Phillips 66 in the 2nd quarter worth about $31,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $130.93 on Wednesday. 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 stock 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. The firm’s 50 day moving average price is $129.90 and its 200-day moving average price is $135.55. Phillips 66 has a twelve month low of $114.94 and a twelve month high of $174.08.

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

Phillips 66 Dividend Announcement

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

Analysts Set New Price Targets

PSX has been the subject of several recent analyst reports. UBS Group decreased their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Morgan Stanley decreased their price objective 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. Wells Fargo & Company cut their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Raymond James boosted their price target on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, TD Cowen dropped their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 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.