Pathstone Holdings LLC Sells 9,350 Shares of Phillips 66 (NYSE:PSX)

Pathstone Holdings LLC lessened its stake in Phillips 66 (NYSE:PSX) by 14.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,862 shares of the oil and gas company’s stock after selling 9,350 shares during the period. Pathstone Holdings LLC’s holdings in Phillips 66 were worth $7,080,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PSX. Mizuho Securities USA LLC grew its holdings in shares of Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after acquiring an additional 2,467,316 shares during the period. Boston Partners grew its stake in shares of Phillips 66 by 41.4% during 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 during the period. Price T Rowe Associates Inc. MD increased its position in shares of Phillips 66 by 96.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after purchasing an additional 1,408,954 shares during the last quarter. ING Groep NV lifted its stake in shares of Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after purchasing an additional 653,032 shares during the period. Finally, Mizuho Markets Americas LLC purchased a new position in shares of Phillips 66 in the third quarter worth approximately $70,983,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 0.3 %

Shares of PSX opened at $131.90 on Friday. The stock has a market capitalization of $54.47 billion, a PE ratio of 16.93, a P/E/G ratio of 4.29 and a beta of 1.33. The company’s fifty day moving average is $130.15 and its 200 day moving average is $135.50. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a fifty-two week low of $114.94 and a fifty-two week high of $174.08.

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, topping the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion for 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%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $4.63 earnings per share. Sell-side analysts expect that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.49%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PSX. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research report on Thursday, October 17th. Morgan Stanley lowered their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. TD Cowen reduced their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Raymond James increased their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Finally, Scotiabank lowered their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.69.

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.