Allen Capital Group LLC Lowers Position in Phillips 66 (NYSE:PSX)

Allen Capital Group LLC cut its holdings in Phillips 66 (NYSE:PSX) by 4.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,371 shares of the oil and gas company’s stock after selling 229 shares during the period. Allen Capital Group LLC’s holdings in Phillips 66 were worth $706,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Strategic Financial Concepts LLC bought a new position in Phillips 66 during the second quarter valued at $26,000. nVerses Capital LLC bought a new position in Phillips 66 during the third quarter valued at $26,000. Values First Advisors Inc. bought a new position in Phillips 66 during the third quarter valued at $30,000. Bank & Trust Co bought a new position in Phillips 66 during the second quarter valued at $31,000. Finally, Opal Wealth Advisors LLC bought a new position in Phillips 66 during the second quarter valued at $34,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Trading Up 1.4 %

Shares of PSX stock opened at $133.28 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 52-week low of $117.32 and a 52-week high of $174.08. The company has a market capitalization of $55.04 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 4.34 and a beta of 1.33. The business’s fifty day moving average is $130.28 and its 200 day moving average is $135.42.

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, 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 business had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the business posted $4.63 earnings per share. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, equities research analysts anticipate that Phillips 66 will post 7.57 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared 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 3.45%. Phillips 66’s payout ratio is 59.05%.

Analyst Ratings Changes

PSX has been the subject of several research reports. JPMorgan Chase & Co. reduced their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Barclays cut their price target on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. TD Cowen cut their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Morgan Stanley cut their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Finally, Wells Fargo & Company cut their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus 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.