Phillips 66 (NYSE:PSX) Shares Purchased by Richard C. Young & CO. LTD.

Richard C. Young & CO. LTD. boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 0.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 109,382 shares of the oil and gas company’s stock after buying an additional 944 shares during the quarter. Richard C. Young & CO. LTD.’s holdings in Phillips 66 were worth $14,378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quest Partners LLC raised its stake in shares of Phillips 66 by 324,800.0% in the third quarter. Quest Partners LLC now owns 3,249 shares of the oil and gas company’s stock valued at $427,000 after acquiring an additional 3,248 shares in the last quarter. Islay Capital Management LLC increased its holdings in Phillips 66 by 6.5% during the 3rd quarter. Islay Capital Management LLC now owns 4,935 shares of the oil and gas company’s stock worth $649,000 after purchasing an additional 300 shares during the period. Aljian Capital Management LLC acquired a new stake in Phillips 66 in the 3rd quarter valued at about $331,000. TrinityPoint Wealth LLC boosted its stake in shares of Phillips 66 by 2.4% in the 3rd quarter. TrinityPoint Wealth LLC now owns 5,312 shares of the oil and gas company’s stock valued at $698,000 after buying an additional 122 shares during the period. Finally, Glass Wealth Management Co LLC grew its position in shares of Phillips 66 by 4.4% during the third quarter. Glass Wealth Management Co LLC now owns 30,739 shares of the oil and gas company’s stock worth $4,041,000 after buying an additional 1,295 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $130.91 on Monday. The company’s 50 day simple moving average is $129.75 and its 200-day simple moving average is $135.73. Phillips 66 has a 12-month low of $111.90 and a 12-month high of $174.08. The firm has a market cap of $54.06 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 4.29 and a beta of 1.33. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same period in the previous year, the business posted $4.63 earnings per share. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. As a group, equities analysts predict that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed 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 of this dividend 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 59.05%.

Analysts Set New Price Targets

Several brokerages recently weighed in on PSX. Morgan Stanley reduced 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 report on Monday, September 16th. TD Cowen lowered 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 note on Wednesday, September 11th. Scotiabank cut their price target on 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. Mizuho lowered 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, Bank of America began coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price 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.