Asset Advisors Investment Management LLC Decreases Stake in Phillips 66 (NYSE:PSX)

Asset Advisors Investment Management LLC cut its stake in shares of Phillips 66 (NYSE:PSX) by 15.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,750 shares of the oil and gas company’s stock after selling 332 shares during the quarter. Asset Advisors Investment Management LLC’s holdings in Phillips 66 were worth $230,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Van ECK Associates Corp grew its position in Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after buying an additional 60,355 shares during the period. Mizuho Securities USA LLC boosted its stake in shares of 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 worth $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. Nwam LLC purchased a new stake in shares of Phillips 66 during the 3rd quarter worth approximately $498,000. Olympiad Research LP acquired a new stake in shares of Phillips 66 in the 3rd quarter worth approximately $607,000. Finally, Principal Financial Group Inc. increased its stake in Phillips 66 by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock valued at $69,775,000 after purchasing an additional 14,209 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Scotiabank decreased their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Barclays cut their price target on 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. Bank of America began coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective on the stock. Wells Fargo & Company dropped their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a report on Monday. Finally, Morgan Stanley reduced their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $149.23.

Phillips 66 Stock Down 1.1 %

PSX opened at $123.99 on Friday. The stock has a market capitalization of $51.21 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 4.14 and a beta of 1.35. Phillips 66 has a 12 month low of $119.77 and a 12 month high of $174.08. 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 business has a 50-day moving average of $130.18 and a two-hundred day moving average of $134.05.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS 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 analyst estimates 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 for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.63 earnings per share. On average, research analysts expect that Phillips 66 will post 7.56 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date was Monday, November 18th. Phillips 66’s 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.