Phillips 66 (NYSE:PSX) Shares Acquired by Cross Staff Investments Inc

Cross Staff Investments Inc lifted its position in shares of Phillips 66 (NYSE:PSX) by 7.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,363 shares of the oil and gas company’s stock after acquiring an additional 154 shares during the quarter. Cross Staff Investments Inc’s holdings in Phillips 66 were worth $311,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of PSX. Sunbelt Securities Inc. increased its position in shares of Phillips 66 by 87.4% in the first quarter. Sunbelt Securities Inc. now owns 2,983 shares of the oil and gas company’s stock valued at $487,000 after buying an additional 1,391 shares in the last quarter. Brookstone Capital Management raised its position in Phillips 66 by 6.7% during the first quarter. Brookstone Capital Management now owns 23,076 shares of the oil and gas company’s stock worth $3,769,000 after acquiring an additional 1,450 shares during the period. Aspiriant LLC purchased a new position in Phillips 66 during the first quarter valued at $267,000. Wealthcare Advisory Partners LLC grew its position in shares of Phillips 66 by 139.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 11,339 shares of the oil and gas company’s stock valued at $1,852,000 after purchasing an additional 6,595 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Phillips 66 by 4.0% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 122,282 shares of the oil and gas company’s stock worth $19,974,000 after purchasing an additional 4,748 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Down 0.5 %

PSX opened at $128.49 on Friday. The business has a fifty day simple moving average of $132.85 and a 200-day simple moving average of $139.57. 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. The firm has a market cap of $53.78 billion, a P/E ratio of 11.02, a P/E/G ratio of 5.61 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.33. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the company posted $3.87 EPS. On average, equities analysts expect that Phillips 66 will post 7.81 earnings per share for the current year.

Phillips 66 Announces Dividend

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 issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.58%. Phillips 66’s dividend payout ratio (DPR) is presently 39.45%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Piper Sandler set a $144.00 price objective on Phillips 66 in a research note on Thursday, October 17th. Scotiabank lowered their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. TD Cowen reduced their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Finally, Mizuho lowered their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.50.

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 sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is owned by company insiders.

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.