EP Wealth Advisors LLC Raises Stock Position in Phillips 66 (NYSE:PSX)

EP Wealth Advisors LLC grew its holdings in Phillips 66 (NYSE:PSX) by 39.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,445 shares of the oil and gas company’s stock after purchasing an additional 3,261 shares during the quarter. EP Wealth Advisors LLC’s holdings in Phillips 66 were worth $1,504,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in PSX. Mizuho Securities USA LLC grew its stake in shares of Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. ING Groep NV grew its stake in Phillips 66 by 123.2% during the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after purchasing an additional 653,032 shares in the last quarter. Bank of Montreal Can increased its holdings in Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after purchasing an additional 633,970 shares during the period. Mizuho Markets Americas LLC purchased a new position in shares of Phillips 66 in the 3rd quarter valued at about $70,983,000. Finally, Bank of New York Mellon Corp grew its position in shares of Phillips 66 by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after buying an additional 402,925 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays decreased their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. UBS Group lowered their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. JPMorgan Chase & Co. cut their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Scotiabank dropped their price objective 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. Finally, TD Cowen decreased their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.23.

Phillips 66 Stock Up 1.1 %

PSX opened at $130.09 on Tuesday. 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 company has a market cap of $53.72 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 4.24 and a beta of 1.35. The business’s fifty day moving average is $130.81 and its two-hundred day moving average is $134.30. Phillips 66 has a one year low of $119.77 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $36.31 billion. During the same period in the previous year, the firm posted $4.63 EPS. Phillips 66’s revenue was down 10.3% on a year-over-year basis. Analysts anticipate that Phillips 66 will post 7.59 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was Monday, November 18th. Phillips 66’s dividend payout ratio is presently 59.05%.

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.