Covestor Ltd Boosts Stock Holdings in Phillips 66 (NYSE:PSX)

Covestor Ltd boosted its stake in Phillips 66 (NYSE:PSX) by 25.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 514 shares of the oil and gas company’s stock after purchasing an additional 104 shares during the period. Covestor Ltd’s holdings in Phillips 66 were worth $68,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Phillips 66 by 4.0% in the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after buying an additional 1,578,669 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Phillips 66 by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after buying an additional 402,925 shares during the period. Boston Partners raised its holdings in shares of Phillips 66 by 41.4% in the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after purchasing an additional 1,595,722 shares in the last quarter. Legal & General Group Plc lifted its stake in shares of Phillips 66 by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock worth $522,240,000 after purchasing an additional 18,238 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in shares of Phillips 66 by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock worth $514,253,000 after buying an additional 111,261 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on PSX shares. Mizuho cut their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. UBS Group lowered their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Raymond James lifted their price target on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, Piper Sandler set a $144.00 price objective on Phillips 66 in a research note on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Trading Down 0.1 %

Phillips 66 stock opened at $129.76 on Friday. Phillips 66 has a 52 week low of $111.90 and a 52 week high of $174.08. 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 market capitalization of $53.59 billion, a PE ratio of 16.57, a PEG ratio of 4.18 and a beta of 1.33. The business’s 50-day simple moving average is $129.68 and its 200-day simple moving average is $136.00.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. Phillips 66’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.63 EPS. Equities research analysts forecast that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.55%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

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.