Phillips 66 (NYSE:PSX) Shares Sold by Independent Advisor Alliance

Independent Advisor Alliance decreased its position in Phillips 66 (NYSE:PSX) by 25.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,985 shares of the oil and gas company’s stock after selling 8,625 shares during the quarter. Independent Advisor Alliance’s holdings in Phillips 66 were worth $3,284,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Mitchell & Pahl Private Wealth LLC grew its position in shares of Phillips 66 by 0.4% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after acquiring an additional 74 shares in the last quarter. Catalyst Financial Partners LLC grew its position in shares of Phillips 66 by 5.1% in the 2nd quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after acquiring an additional 74 shares in the last quarter. Advisory Alpha LLC grew its position in shares of Phillips 66 by 4.8% in the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after acquiring an additional 76 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its position in shares of Phillips 66 by 1.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock worth $616,000 after acquiring an additional 77 shares in the last quarter. Finally, Krane Funds Advisors LLC grew its position in shares of Phillips 66 by 3.6% in the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.0 %

Shares of Phillips 66 stock opened at $133.33 on Tuesday. Phillips 66 has a 1-year low of $117.32 and a 1-year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The business’s fifty day moving average price is $130.40 and its two-hundred day moving average price is $135.17. The company has a market capitalization of $55.06 billion, a P/E ratio of 17.12, a PEG ratio of 4.40 and a beta of 1.33.

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, topping 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 company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the previous year, the business earned $4.63 EPS. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, research analysts forecast that Phillips 66 will post 7.57 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is presently 59.05%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on PSX. Bank of America assumed coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Piper Sandler set a $144.00 price objective on Phillips 66 in a research report on Thursday, October 17th. UBS Group reduced their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Morgan Stanley reduced their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, Raymond James boosted their price objective on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $149.69.

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.