Citizens Financial Group Inc. RI Has $775,000 Stock Position in Phillips 66 (NYSE:PSX)

Citizens Financial Group Inc. RI boosted its stake in shares of Phillips 66 (NYSE:PSX) by 59.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,898 shares of the oil and gas company’s stock after purchasing an additional 2,206 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Phillips 66 were worth $775,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PSX. Moors & Cabot Inc. increased its holdings in shares of Phillips 66 by 4.1% during the 3rd quarter. Moors & Cabot Inc. now owns 12,012 shares of the oil and gas company’s stock worth $1,579,000 after purchasing an additional 472 shares during the period. Ontario Teachers Pension Plan Board acquired a new stake in Phillips 66 during the third quarter worth about $489,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Phillips 66 by 113.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,703 shares of the oil and gas company’s stock valued at $750,000 after acquiring an additional 3,030 shares during the period. Commerce Bank raised its holdings in Phillips 66 by 1.6% in the 3rd quarter. Commerce Bank now owns 55,553 shares of the oil and gas company’s stock valued at $7,302,000 after acquiring an additional 874 shares in the last quarter. Finally, Strategy Asset Managers LLC raised its holdings in Phillips 66 by 65.1% in the 3rd quarter. Strategy Asset Managers LLC now owns 6,459 shares of the oil and gas company’s stock valued at $849,000 after acquiring an additional 2,547 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

PSX has been the topic of a number of research reports. Morgan Stanley lowered their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. UBS Group lowered their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a report on Thursday, October 17th. Barclays cut their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Finally, Wells Fargo & Company reduced their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Trading Up 1.4 %

Shares of NYSE PSX opened at $133.28 on Friday. Phillips 66 has a 1-year low of $117.32 and a 1-year high of $174.08. The company has a 50-day moving average of $130.28 and a two-hundred day moving average of $135.42. The company has a market cap of $55.04 billion, a PE ratio of 17.11, a P/E/G ratio of 4.29 and a beta of 1.33. 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 posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.63 EPS. As a group, equities analysts expect that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.45%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is 59.05%.

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.