Phillips 66 (NYSE:PSX) Shares Acquired by M3 Advisory Group LLC

M3 Advisory Group LLC grew its stake in Phillips 66 (NYSE:PSX) by 7.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,390 shares of the oil and gas company’s stock after buying an additional 176 shares during the quarter. M3 Advisory Group LLC’s holdings in Phillips 66 were worth $314,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Boston Partners increased its holdings 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 in the last quarter. Vanguard Group Inc. boosted its position in Phillips 66 by 4.0% during 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 purchasing an additional 1,578,669 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in 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 last quarter. Bank of New York Mellon Corp grew its holdings 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 worth $1,189,035,000 after buying an additional 402,925 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of Phillips 66 by 1,087.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 432,003 shares of the oil and gas company’s stock worth $70,563,000 after buying an additional 395,617 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

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 stock was 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 directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Down 1.0 %

Shares of NYSE:PSX traded down $1.34 during trading on Friday, hitting $132.01. The company’s stock had a trading volume of 229,531 shares, compared to its average volume of 2,679,850. The company has a market capitalization of $55.26 billion, a PE ratio of 11.42, a P/E/G ratio of 5.75 and a beta of 1.33. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The business has a 50 day moving average price of $133.23 and a two-hundred day moving average price of $140.84.

Phillips 66 (NYSE:PSX) last posted its quarterly 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 analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the firm earned $3.87 earnings per share. As a group, research analysts expect that Phillips 66 will post 7.85 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.48%. Phillips 66’s dividend payout ratio (DPR) is presently 39.45%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PSX. Piper Sandler boosted their price target on shares of Phillips 66 from $136.00 to $144.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 8th. Morgan Stanley lowered their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Wolfe Research assumed coverage on Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating for the company. Scotiabank lowered their price objective on 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. Finally, TD Cowen cut their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.