Phillips 66 (NYSE:PSX) Stock Position Boosted by Duncan Williams Asset Management LLC

Duncan Williams Asset Management LLC grew its stake in shares of Phillips 66 (NYSE:PSX) by 16.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,322 shares of the oil and gas company’s stock after buying an additional 322 shares during the quarter. Duncan Williams Asset Management LLC’s holdings in Phillips 66 were worth $305,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Manning & Napier Advisors LLC acquired a new stake in Phillips 66 in the second quarter worth approximately $17,670,000. M&G Plc bought a new position in Phillips 66 during the second quarter valued at about $3,596,000. Duality Advisers LP bought a new position in Phillips 66 during the first quarter valued at about $3,596,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in Phillips 66 by 42.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock worth $21,844,000 after acquiring an additional 39,775 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its position in Phillips 66 by 14.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock worth $38,530,000 after acquiring an additional 36,116 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was 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 approximately $11,390,062.37. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

PSX has been the topic of several recent research reports. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 3rd. Raymond James lifted their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Scotiabank cut their price objective on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating for the company in a research report on Friday, July 12th. TD Cowen decreased their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Finally, Wolfe Research started coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $152.71.

Phillips 66 Trading Up 3.3 %

Phillips 66 stock opened at $138.93 on Friday. The company has a 50 day moving average price of $133.90 and a 200 day moving average price of $142.51. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The firm has a market capitalization of $58.90 billion, a price-to-earnings ratio of 10.69, a P/E/G ratio of 5.28 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The firm had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business posted $3.87 EPS. Research analysts forecast that Phillips 66 will post 8.27 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.31%. Phillips 66’s dividend payout ratio is 35.38%.

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.