CarsonAllaria Wealth Management Ltd. Grows Stock Holdings in Phillips 66 (NYSE:PSX)

CarsonAllaria Wealth Management Ltd. boosted its holdings in Phillips 66 (NYSE:PSX) by 115.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,277 shares of the oil and gas company’s stock after purchasing an additional 684 shares during the quarter. CarsonAllaria Wealth Management Ltd.’s holdings in Phillips 66 were worth $168,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of PSX. Boston Partners lifted its holdings in 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 worth $889,214,000 after purchasing an additional 1,595,722 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of 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 acquiring an additional 1,578,669 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Phillips 66 by 96.9% during the first 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 acquiring an additional 1,408,954 shares during the last quarter. Bank of New York Mellon Corp grew its stake in 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 acquiring an additional 402,925 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its holdings in Phillips 66 by 1,087.3% in 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 last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Down 1.0 %

Phillips 66 stock traded down $1.36 during midday trading on Monday, hitting $131.24. 368,974 shares of the company’s stock were exchanged, compared to its average volume of 2,675,771. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.79 and a current ratio of 1.14. The company has a market cap of $55.64 billion, a PE ratio of 10.20, a P/E/G ratio of 5.75 and a beta of 1.33. The firm has a 50-day moving average of $133.18 and a two-hundred day moving average of $140.20.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter last year, the company posted $3.87 earnings per share. The firm’s revenue was up 8.9% compared to the same quarter last year. As a group, analysts expect that Phillips 66 will post 7.85 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.51%. Phillips 66’s payout ratio is 35.38%.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of research analyst reports. Barclays cut their price objective on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 8th. Mizuho lowered their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Morgan Stanley decreased their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Bank of America initiated coverage on shares of Phillips 66 in a research note on Thursday. They issued a “buy” rating and a $156.00 price objective for the company. Finally, Raymond James upped their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Five equities research 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, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $149.50.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is owned by corporate insiders.

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.