Mutual Advisors LLC Has $1.87 Million Position in Phillips 66 (NYSE:PSX)

Mutual Advisors LLC raised its position in Phillips 66 (NYSE:PSX) by 63.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,551 shares of the oil and gas company’s stock after purchasing an additional 5,663 shares during the period. Mutual Advisors LLC’s holdings in Phillips 66 were worth $1,870,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Crewe Advisors LLC acquired a new position in shares of Phillips 66 in the 1st quarter valued at approximately $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 in the first quarter valued at approximately $26,000. Strategic Financial Concepts LLC acquired a new position in shares of Phillips 66 in the second quarter valued at approximately $26,000. nVerses Capital LLC bought a new stake in shares of Phillips 66 during the third quarter worth $26,000. Finally, Values First Advisors Inc. acquired a new stake in shares of Phillips 66 during the third quarter worth $30,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PSX. Piper Sandler set a $144.00 target price on Phillips 66 in a report on Thursday, October 17th. Barclays decreased their price objective on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a report on Tuesday, October 8th. Scotiabank cut their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company reduced their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Finally, TD Cowen lowered their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $151.42.

Phillips 66 Stock Performance

Shares of PSX opened at $121.82 on Friday. The company has a market cap of $50.99 billion, a PE ratio of 15.64, a price-to-earnings-growth ratio of 5.47 and a beta of 1.33. The firm has a 50-day moving average of $131.58 and a 200-day moving average of $138.09. Phillips 66 has a one year low of $110.54 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results 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 16.77% and a net margin of 3.32%. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter last year, the company posted $4.63 earnings per share. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. As a group, equities analysts forecast that Phillips 66 will post 7.81 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.78%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is 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.