Phillips 66 (NYSE:PSX) Stock Holdings Trimmed by Atlantic Union Bankshares Corp

Atlantic Union Bankshares Corp trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 3.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,244 shares of the oil and gas company’s stock after selling 1,361 shares during the period. Atlantic Union Bankshares Corp’s holdings in Phillips 66 were worth $5,684,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PSX. Strategic Financial Concepts LLC acquired a new stake in Phillips 66 in the second quarter worth approximately $26,000. nVerses Capital LLC purchased a new stake in shares of Phillips 66 in the 3rd quarter valued at approximately $26,000. Values First Advisors Inc. acquired a new position in Phillips 66 in the 3rd quarter worth approximately $30,000. Bank & Trust Co purchased a new position in Phillips 66 during the 2nd quarter worth approximately $31,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Phillips 66 during the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX stock opened at $133.35 on Friday. Phillips 66 has a 52 week low of $117.74 and a 52 week high of $174.08. The stock has a market capitalization of $55.07 billion, a PE ratio of 17.12, a PEG ratio of 4.35 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock’s fifty day moving average is $130.60 and its 200-day moving average is $135.06.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the prior year, the firm earned $4.63 earnings per share. Phillips 66’s revenue was down 10.3% compared to the same quarter last year. Equities research analysts expect that Phillips 66 will post 7.66 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.45%. Phillips 66’s dividend payout ratio (DPR) is currently 59.05%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on PSX shares. Wells Fargo & Company lowered their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Scotiabank dropped their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Bank of America began coverage on shares of Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target for the company. JPMorgan Chase & Co. cut their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, TD Cowen lowered their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Five equities 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, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.