Great Valley Advisor Group Inc. Acquires 267 Shares of Phillips 66 (NYSE:PSX)

Great Valley Advisor Group Inc. lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 1.8% during the third quarter, Holdings Channel.com reports. The firm owned 15,499 shares of the oil and gas company’s stock after acquiring an additional 267 shares during the quarter. Great Valley Advisor Group Inc.’s holdings in Phillips 66 were worth $2,037,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Van ECK Associates Corp grew its position in shares of Phillips 66 by 263.3% in the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after buying an additional 60,355 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Phillips 66 in the second quarter worth approximately $17,670,000. M&G Plc bought a new stake in Phillips 66 in the second quarter valued at approximately $3,596,000. Mizuho Securities USA LLC increased its position in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after purchasing an additional 2,467,316 shares during the period. Finally, Cetera Investment Advisers raised its holdings in Phillips 66 by 318.9% during the 1st quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company’s stock worth $23,284,000 after purchasing an additional 108,515 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of recent analyst reports. Piper Sandler set a $144.00 price target on Phillips 66 in a report on Thursday, October 17th. UBS Group dropped their price target 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. TD Cowen lowered their price objective 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. Scotiabank cut 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 research note on Thursday, October 10th. Finally, Morgan Stanley decreased their price target 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 analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Trading Up 1.4 %

Shares of Phillips 66 stock opened at $133.27 on Monday. 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 company has a market capitalization of $55.04 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 4.40 and a beta of 1.33. The stock has a fifty day simple moving average of $130.28 and a 200 day simple moving average of $135.27. Phillips 66 has a 12-month low of $117.32 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results 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. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the previous year, the company earned $4.63 earnings per share. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Phillips 66 will post 7.57 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm 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 dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.45%. Phillips 66’s dividend payout ratio (DPR) is currently 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.