Phillips 66 (NYSE:PSX) Stake Lifted by Redwood Investment Management LLC

Redwood Investment Management LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 2.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,234 shares of the oil and gas company’s stock after purchasing an additional 240 shares during the period. Redwood Investment Management LLC’s holdings in Phillips 66 were worth $1,341,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PSX. Catalyst Financial Partners LLC grew its position in Phillips 66 by 5.1% in the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after buying an additional 74 shares during the last quarter. Advisory Alpha LLC boosted its stake in shares of Phillips 66 by 4.8% during the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after acquiring an additional 76 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Phillips 66 by 1.8% during the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock worth $616,000 after purchasing an additional 77 shares during the period. Krane Funds Advisors LLC raised its position in shares of Phillips 66 by 3.6% during the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 82 shares during the period. Finally, Richwood Investment Advisors LLC lifted its holdings in shares of Phillips 66 by 1.9% during the third quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock valued at $602,000 after purchasing an additional 85 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

NYSE PSX opened at $128.68 on Friday. 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 stock has a market capitalization of $53.14 billion, a PE ratio of 16.52, a price-to-earnings-growth ratio of 4.39 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 50 day moving average price of $130.88 and a two-hundred day moving average price of $134.62.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the prior year, the company posted $4.63 earnings per share. Phillips 66’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, equities analysts predict that Phillips 66 will post 7.66 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a $1.15 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.57%. Phillips 66’s payout ratio is 59.05%.

Analysts Set New Price Targets

PSX has been the topic of several recent analyst reports. Wells Fargo & Company cut their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Barclays reduced their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. UBS Group decreased their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. 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, Bank of America initiated coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Five investment 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 presently has an average rating of “Moderate Buy” and an average target price 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.