Marco Investment Management LLC Buys 1,802 Shares of Phillips 66 (NYSE:PSX)

Marco Investment Management LLC grew its stake in Phillips 66 (NYSE:PSX) by 2.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 77,922 shares of the oil and gas company’s stock after purchasing an additional 1,802 shares during the quarter. Marco Investment Management LLC’s holdings in Phillips 66 were worth $10,243,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Lazard Asset Management LLC increased its stake in shares of Phillips 66 by 12.7% in the 1st quarter. Lazard Asset Management LLC now owns 3,998 shares of the oil and gas company’s stock worth $652,000 after acquiring an additional 451 shares in the last quarter. Kestra Advisory Services LLC increased its stake in shares of Phillips 66 by 7.8% in the 1st quarter. Kestra Advisory Services LLC now owns 71,565 shares of the oil and gas company’s stock worth $11,689,000 after acquiring an additional 5,161 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Phillips 66 by 96.9% in the 1st 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 in the last quarter. Mount Yale Investment Advisors LLC increased its stake in shares of Phillips 66 by 15.1% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 6,597 shares of the oil and gas company’s stock worth $1,078,000 after acquiring an additional 866 shares in the last quarter. Finally, Caxton Associates LP increased its stake in shares of Phillips 66 by 22.2% in the 1st quarter. Caxton Associates LP now owns 5,630 shares of the oil and gas company’s stock worth $920,000 after acquiring an additional 1,024 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $133.27 on Friday. The firm’s 50-day moving average price is $130.28 and its 200-day moving average price is $135.35. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market cap of $55.04 billion, a PE ratio of 17.11, a PEG ratio of 4.34 and a beta of 1.33. Phillips 66 has a 52-week low of $117.32 and a 52-week 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm posted $4.63 EPS. As a group, analysts anticipate that Phillips 66 will post 7.57 EPS 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 issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Raymond James increased their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Bank of America began coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. Mizuho reduced their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Scotiabank reduced their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Morgan Stanley reduced their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Five investment 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $149.69.

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.