Olympiad Research LP Invests $607,000 in Phillips 66 (NYSE:PSX)

Olympiad Research LP acquired a new position in shares of Phillips 66 (NYSE:PSX) during the 3rd quarter, Holdings Channel reports. The fund acquired 4,615 shares of the oil and gas company’s stock, valued at approximately $607,000.

Other hedge funds have also modified their holdings of the company. Crewe Advisors LLC purchased a new stake in shares of Phillips 66 during the 1st quarter worth approximately $25,000. nVerses Capital LLC bought a new position in shares of Phillips 66 during the 3rd quarter valued at approximately $26,000. Bank & Trust Co bought a new position in shares of Phillips 66 during the 2nd quarter valued at approximately $31,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 during the 3rd quarter valued at approximately $30,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Phillips 66 during the 2nd quarter valued at approximately $34,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

Shares of PSX stock opened at $127.91 on Thursday. Phillips 66 has a twelve month low of $110.54 and a twelve month high of $174.08. The stock has a market capitalization of $52.83 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 3.94 and a beta of 1.33. The stock has a fifty day simple moving average of $130.59 and a two-hundred day simple moving average of $137.00. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

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 company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the company earned $4.63 earnings per share. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, analysts predict that Phillips 66 will post 7.69 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is currently 59.05%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PSX. Mizuho cut their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Barclays cut their target price on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 8th. Wells Fargo & Company cut their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Piper Sandler set a $144.00 price objective on Phillips 66 in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. cut their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $150.38.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.22% of the stock is owned by corporate insiders.

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.