AlphaCore Capital LLC Has $654,000 Stock Holdings in Phillips 66 (NYSE:PSX)

AlphaCore Capital LLC raised its stake in Phillips 66 (NYSE:PSX) by 10.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,974 shares of the oil and gas company’s stock after buying an additional 451 shares during the quarter. AlphaCore Capital LLC’s holdings in Phillips 66 were worth $654,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. 49 Wealth Management LLC raised its position in Phillips 66 by 11.2% in the 3rd quarter. 49 Wealth Management LLC now owns 4,214 shares of the oil and gas company’s stock valued at $554,000 after buying an additional 425 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Phillips 66 by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock valued at $381,453,000 after buying an additional 16,941 shares during the last quarter. Thompson Siegel & Walmsley LLC grew its stake in shares of Phillips 66 by 10.2% in the third quarter. Thompson Siegel & Walmsley LLC now owns 2,974 shares of the oil and gas company’s stock valued at $391,000 after buying an additional 275 shares in the last quarter. German American Bancorp Inc. increased its holdings in Phillips 66 by 7.8% during the third quarter. German American Bancorp Inc. now owns 28,257 shares of the oil and gas company’s stock worth $3,714,000 after buying an additional 2,038 shares during the last quarter. Finally, Cypress Capital Group lifted its stake in Phillips 66 by 0.9% in the third quarter. Cypress Capital Group now owns 65,300 shares of the oil and gas company’s stock valued at $8,584,000 after acquiring an additional 597 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of research analyst reports. Scotiabank dropped 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 report on Thursday, October 10th. UBS Group dropped their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. JPMorgan Chase & Co. cut their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. TD Cowen cut their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Raymond James boosted their price target on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Price Performance

PSX stock opened at $131.90 on Friday. The stock has a market cap of $54.47 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 4.29 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a 50 day simple moving average of $130.15 and a 200 day simple moving average of $135.50. Phillips 66 has a 1 year low of $114.94 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS 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 during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the prior year, the company earned $4.63 EPS. Phillips 66’s revenue was down 10.3% compared to the same quarter last year. Research analysts anticipate that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed 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. This represents a $4.60 annualized dividend and a dividend yield of 3.49%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

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.