Phillips 66 (NYSE:PSX) Stock Holdings Increased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC raised its holdings in shares of Phillips 66 (NYSE:PSX) by 4.4% in the third quarter, HoldingsChannel reports. The institutional investor owned 20,574 shares of the oil and gas company’s stock after purchasing an additional 865 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Phillips 66 were worth $2,704,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new stake in shares of Phillips 66 during the 1st quarter worth $25,000. Strategic Financial Concepts LLC purchased a new position in Phillips 66 in the 2nd quarter worth about $26,000. nVerses Capital LLC purchased a new position in Phillips 66 in the 3rd quarter worth about $26,000. Values First Advisors Inc. acquired a new stake in Phillips 66 during the 3rd quarter worth about $30,000. Finally, Bank & Trust Co purchased a new stake in Phillips 66 during the second quarter valued at about $31,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 5.0 %

NYSE:PSX opened at $127.91 on Thursday. 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’s 50 day moving average is $130.59 and its 200-day moving average is $137.00. The firm has a market cap of $52.83 billion, a price-to-earnings ratio of 16.42, a P/E/G ratio of 3.94 and a beta of 1.33. Phillips 66 has a 12 month low of $110.54 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The business’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.63 EPS. Equities analysts anticipate that Phillips 66 will post 7.69 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.60%. Phillips 66’s payout ratio is 59.05%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PSX shares. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. TD Cowen decreased their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Mizuho dropped their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Bank of America assumed 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. Finally, Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $150.38.

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.