WESPAC Advisors LLC Boosts Holdings in Phillips 66 (NYSE:PSX)

WESPAC Advisors LLC raised its holdings in shares of Phillips 66 (NYSE:PSX) by 6.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,950 shares of the oil and gas company’s stock after purchasing an additional 222 shares during the period. WESPAC Advisors LLC’s holdings in Phillips 66 were worth $519,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PSX. Mitchell & Pahl Private Wealth LLC grew its position in shares of Phillips 66 by 0.4% during 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 acquiring an additional 74 shares during the period. Catalyst Financial Partners LLC boosted its holdings in 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 valued at $214,000 after acquiring an additional 74 shares during the period. Advisory Alpha LLC grew its stake in 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 acquiring an additional 76 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its holdings in shares of Phillips 66 by 1.8% in the second 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 acquiring an additional 77 shares in the last quarter. Finally, Krane Funds Advisors LLC increased its holdings in Phillips 66 by 3.6% during the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock valued at $309,000 after buying an additional 82 shares during the period. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Bank of America began coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. UBS Group decreased their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Barclays lowered their price target on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a report on Thursday, October 17th. Finally, Scotiabank reduced their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Price Performance

PSX opened at $133.27 on Friday. The company has a fifty day simple moving average of $130.28 and a 200 day simple moving average of $135.35. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a market cap of $55.04 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 4.34 and a beta of 1.33. Phillips 66 has a twelve month low of $117.32 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period last year, the business posted $4.63 earnings per share. Equities research analysts expect that Phillips 66 will post 7.57 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 3.45%. 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.