Prospera Financial Services Inc Purchases 1,849 Shares of Phillips 66 (NYSE:PSX)

Prospera Financial Services Inc boosted its position in Phillips 66 (NYSE:PSX) by 6.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,040 shares of the oil and gas company’s stock after purchasing an additional 1,849 shares during the quarter. Prospera Financial Services Inc’s holdings in Phillips 66 were worth $3,820,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp lifted its position in shares of Phillips 66 by 263.3% during the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after acquiring an additional 60,355 shares during the period. Manning & Napier Advisors LLC bought a new stake in shares of Phillips 66 during the 2nd quarter worth $17,670,000. M&G Plc bought a new stake in shares of Phillips 66 during the 2nd quarter worth $3,596,000. Mizuho Securities USA LLC lifted its position in shares of Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after buying an additional 2,467,316 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in shares of Phillips 66 by 318.9% during the 1st quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company’s stock worth $23,284,000 after buying an additional 108,515 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Up 0.4 %

Shares of Phillips 66 stock opened at $131.41 on Thursday. Phillips 66 has a one year low of $114.94 and a one 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 stock’s 50-day moving average is $130.03 and its 200 day moving average is $135.52. The firm has a market cap of $54.27 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 4.29 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its 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 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 analyst estimates of $36.31 billion. During the same quarter in the prior year, the company earned $4.63 EPS. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. Equities research analysts anticipate that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.50%. Phillips 66’s dividend payout ratio is presently 59.05%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. TD Cowen dropped their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Morgan Stanley lowered their target price 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. Scotiabank lowered their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. lowered their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 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.