Metis Global Partners LLC Acquires 2,076 Shares of Phillips 66 (NYSE:PSX)

Metis Global Partners LLC boosted its stake in shares of Phillips 66 (NYSE:PSX) by 9.8% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 23,303 shares of the oil and gas company’s stock after buying an additional 2,076 shares during the quarter. Metis Global Partners LLC’s holdings in Phillips 66 were worth $3,063,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in PSX. Mitchell & Pahl Private Wealth LLC boosted its position in Phillips 66 by 0.4% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock valued at $2,519,000 after buying an additional 74 shares during the period. Catalyst Financial Partners LLC lifted its stake in shares of Phillips 66 by 5.1% during the 2nd quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after purchasing an additional 74 shares during the last quarter. Advisory Alpha LLC grew its position in shares of Phillips 66 by 4.8% in the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after buying an additional 76 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted its holdings in shares of Phillips 66 by 1.8% during the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock valued at $616,000 after purchasing an additional 77 shares during the last quarter. Finally, Krane Funds Advisors LLC raised its position in shares of Phillips 66 by 3.6% in the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 82 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Mizuho cut their price target 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 shares of Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. TD Cowen lowered their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. UBS Group lowered their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Barclays reduced their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Trading Down 0.1 %

Shares of NYSE:PSX opened at $129.76 on Friday. Phillips 66 has a fifty-two week low of $111.90 and a fifty-two week high of $174.08. The company has a market cap of $53.59 billion, a PE ratio of 16.66, a P/E/G ratio of 4.26 and a beta of 1.33. The company’s 50-day moving average price is $129.68 and its 200 day moving average price is $136.00. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

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

Phillips 66 Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.55%. Phillips 66’s dividend payout ratio is presently 59.05%.

Phillips 66 Company 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.