Good Life Advisors LLC Buys 330 Shares of Phillips 66 (NYSE:PSX)

Good Life Advisors LLC raised its position in shares of Phillips 66 (NYSE:PSX) by 10.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,639 shares of the oil and gas company’s stock after acquiring an additional 330 shares during the quarter. Good Life Advisors LLC’s holdings in Phillips 66 were worth $478,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Boston Partners grew its stake in Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after purchasing an additional 1,595,722 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after buying an additional 1,578,669 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Phillips 66 by 96.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock worth $467,743,000 after buying an additional 1,408,954 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Phillips 66 by 5.0% in the 2nd 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 acquiring an additional 402,925 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in Phillips 66 by 1,087.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 432,003 shares of the oil and gas company’s stock valued at $70,563,000 after acquiring an additional 395,617 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other 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 completion of the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

NYSE PSX opened at $132.60 on Friday. The stock has a market capitalization of $55.50 billion, a price-to-earnings ratio of 11.37, a PEG ratio of 5.75 and a beta of 1.33. Phillips 66 has a 1-year low of $107.85 and a 1-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. The business’s fifty day moving average price is $133.18 and its 200-day moving average price is $140.63.

Phillips 66 (NYSE:PSX) last posted its earnings results 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. The company had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.87 earnings per share. On average, equities analysts predict that Phillips 66 will post 7.85 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.47%. Phillips 66’s dividend payout ratio is currently 39.45%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. TD Cowen decreased their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Scotiabank reduced their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Piper Sandler set a $144.00 target price on Phillips 66 in a report on Thursday. Morgan Stanley reduced their price target 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. Finally, Wells Fargo & Company dropped their price target on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $149.50.

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.