KMG Fiduciary Partners LLC Has $1.98 Million Stake in Phillips 66 (NYSE:PSX)

KMG Fiduciary Partners LLC boosted its position in Phillips 66 (NYSE:PSX) by 4.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,057 shares of the oil and gas company’s stock after purchasing an additional 690 shares during the period. KMG Fiduciary Partners LLC’s holdings in Phillips 66 were worth $1,979,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Boston Partners raised its position in Phillips 66 by 41.4% during the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after purchasing an additional 1,595,722 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Phillips 66 by 4.0% in the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after acquiring an additional 1,578,669 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Phillips 66 by 96.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after purchasing an additional 1,408,954 shares during the period. Bank of New York Mellon Corp raised its holdings in Phillips 66 by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after purchasing an additional 402,925 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Phillips 66 by 1,087.3% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 432,003 shares of the oil and gas company’s stock valued at $70,563,000 after purchasing an additional 395,617 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Stock Down 0.6 %

Phillips 66 stock opened at $132.60 on Friday. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The stock has a fifty day simple moving average of $133.18 and a two-hundred day simple moving average of $140.43. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The firm has a market cap of $56.22 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 5.75 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm’s revenue was up 8.9% compared to the same quarter last year. During the same quarter last year, the business earned $3.87 EPS. Equities analysts predict that Phillips 66 will post 7.85 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced 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 3.47%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 35.38%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on PSX shares. JPMorgan Chase & Co. reduced their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Morgan Stanley lowered their target price 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. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research report on Thursday. Scotiabank dropped their price objective 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, TD Cowen decreased their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $149.50.

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.