Phillips 66 (NYSE:PSX) Shares Acquired by Cwm LLC

Cwm LLC boosted its position in Phillips 66 (NYSE:PSX) by 23.0% during the 3rd quarter, Holdings Channel reports. The fund owned 28,618 shares of the oil and gas company’s stock after acquiring an additional 5,350 shares during the quarter. Cwm LLC’s holdings in Phillips 66 were worth $3,762,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC purchased a new position in shares of Phillips 66 in the 2nd quarter valued at about $17,670,000. M&G Plc purchased a new position in Phillips 66 in the second quarter valued at approximately $3,596,000. Duality Advisers LP acquired a new stake in Phillips 66 during the first quarter worth approximately $3,596,000. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Phillips 66 by 42.3% during the 1st 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 buying an additional 39,775 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its holdings in shares of Phillips 66 by 69.8% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock valued at $6,175,000 after buying an additional 15,542 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on PSX shares. Piper Sandler lifted their price target on shares of Phillips 66 from $136.00 to $144.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. Wolfe Research started coverage on Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Barclays cut their price target on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 8th. Mizuho decreased their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, TD Cowen cut their target price 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. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $151.21.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Stock Down 0.1 %

Shares of NYSE:PSX opened at $136.35 on Monday. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $133.24 and its 200-day simple moving average is $141.38. The company has a market cap of $57.81 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 5.48 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The company had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. During the same quarter in the previous year, the company earned $3.87 EPS. The firm’s revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, equities research analysts predict that Phillips 66 will post 8.19 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.37%. Phillips 66’s dividend payout ratio is presently 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.