Catalyst Capital Advisors LLC Decreases Position in Phillips 66 (NYSE:PSX)

Catalyst Capital Advisors LLC reduced its position in shares of Phillips 66 (NYSE:PSX) by 98.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 366 shares of the oil and gas company’s stock after selling 22,804 shares during the period. Catalyst Capital Advisors LLC’s holdings in Phillips 66 were worth $48,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Crewe Advisors LLC acquired a new position in Phillips 66 in the 1st quarter valued at $25,000. nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the third quarter valued at about $26,000. Bank & Trust Co purchased a new position in shares of Phillips 66 in the second quarter worth about $31,000. Values First Advisors Inc. acquired a new position in Phillips 66 during the third quarter worth about $30,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Phillips 66 during the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Mizuho lowered their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Raymond James upped their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Wolfe Research initiated coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating on the stock. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $150.38.

Phillips 66 Stock Up 5.0 %

Phillips 66 stock opened at $127.91 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm has a 50 day moving average price of $130.59 and a 200 day moving average price of $137.00. Phillips 66 has a fifty-two week low of $110.54 and a fifty-two week high of $174.08. The company has a market capitalization of $52.83 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 3.94 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the previous year, the firm posted $4.63 earnings per share. The company’s revenue was down 10.3% on a year-over-year basis. Research analysts expect that Phillips 66 will post 7.69 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. Stockholders of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.60%. Phillips 66’s dividend payout ratio is presently 59.05%.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred 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 $11,390,062.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.22% of the company’s stock.

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.