Phillips 66 (NYSE:PSX) Shares Acquired by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. lifted its stake in Phillips 66 (NYSE:PSX) by 4.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 10,013 shares of the oil and gas company’s stock after acquiring an additional 449 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Phillips 66 were worth $1,316,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PSX. Drive Wealth Management LLC increased its stake in Phillips 66 by 76.8% during the third quarter. Drive Wealth Management LLC now owns 6,976 shares of the oil and gas company’s stock worth $917,000 after purchasing an additional 3,031 shares during the period. Richard C. Young & CO. LTD. increased its stake in shares of Phillips 66 by 0.9% during the third quarter. Richard C. Young & CO. LTD. now owns 109,382 shares of the oil and gas company’s stock worth $14,378,000 after buying an additional 944 shares during the period. Quest Partners LLC lifted its stake in 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 worth $427,000 after acquiring an additional 3,248 shares during the last quarter. Islay Capital Management LLC increased its position in shares of Phillips 66 by 6.5% in the 3rd quarter. Islay Capital Management LLC now owns 4,935 shares of the oil and gas company’s stock valued at $649,000 after purchasing an additional 300 shares during the last quarter. Finally, Aljian Capital Management LLC acquired a new stake in shares of Phillips 66 in the 3rd quarter valued at $331,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of a number of analyst reports. Morgan Stanley lowered their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. JPMorgan Chase & Co. decreased their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Scotiabank lowered their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Barclays reduced their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Finally, Wells Fargo & Company cut their price target on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Trading Up 1.2 %

NYSE:PSX opened at $131.32 on Tuesday. 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’s 50 day simple moving average is $129.82 and its 200-day simple moving average is $135.64. Phillips 66 has a 12-month low of $114.94 and a 12-month high of $174.08. The firm has a market cap of $54.23 billion, a P/E ratio of 16.86, a PEG ratio of 4.29 and a beta of 1.33.

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

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is presently 59.05%.

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.