New Millennium Group LLC Sells 2,358 Shares of Phillips 66 (NYSE:PSX)

New Millennium Group LLC reduced its stake in shares of Phillips 66 (NYSE:PSX) by 60.0% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,571 shares of the oil and gas company’s stock after selling 2,358 shares during the period. New Millennium Group LLC’s holdings in Phillips 66 were worth $206,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of PSX. Mizuho Securities USA LLC grew its holdings in Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after buying an additional 2,467,316 shares in the last quarter. Boston Partners grew its stake in shares of Phillips 66 by 41.4% in the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after acquiring an additional 1,595,722 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Phillips 66 by 96.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock worth $467,743,000 after acquiring an additional 1,408,954 shares in the last quarter. ING Groep NV raised its holdings in shares of Phillips 66 by 123.2% in the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after purchasing an additional 653,032 shares during the last quarter. Finally, Mizuho Markets Americas LLC bought a new position in shares of Phillips 66 during the third quarter valued at about $70,983,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

PSX opened at $131.32 on Tuesday. The firm has a 50-day moving average price of $129.82 and a 200-day moving average price of $135.64. Phillips 66 has a twelve month low of $114.94 and a twelve month high of $174.08. 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 has a market capitalization of $54.23 billion, a price-to-earnings ratio of 16.86, a PEG ratio of 4.29 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The business 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 was down 10.3% compared to the same quarter last year. During the same period in the previous year, the business earned $4.63 EPS. Equities analysts expect that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed 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 of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.50%. Phillips 66’s payout ratio is 59.05%.

Analyst Ratings Changes

PSX has been the subject of a number of recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Raymond James upped their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Bank of America started coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target for the company. Piper Sandler set a $144.00 price objective on Phillips 66 in a research report on Thursday, October 17th. Finally, JPMorgan Chase & Co. decreased their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.69.

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.