MML Investors Services LLC Sells 10,380 Shares of Phillips 66 (NYSE:PSX)

MML Investors Services LLC decreased its holdings in Phillips 66 (NYSE:PSX) by 4.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 224,839 shares of the oil and gas company’s stock after selling 10,380 shares during the period. MML Investors Services LLC’s holdings in Phillips 66 were worth $29,555,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PSX. Hodges Capital Management Inc. purchased a new stake in shares of Phillips 66 during the 3rd quarter worth $427,000. iSAM Funds UK Ltd bought a new position in Phillips 66 in the third quarter worth about $281,000. National Bank of Canada FI lifted its position in shares of Phillips 66 by 22.6% during the third quarter. National Bank of Canada FI now owns 425,363 shares of the oil and gas company’s stock valued at $55,914,000 after buying an additional 78,379 shares during the last quarter. iA Global Asset Management Inc. purchased a new position in shares of Phillips 66 in the 3rd quarter worth approximately $407,000. Finally, EP Wealth Advisors LLC grew its position in shares of Phillips 66 by 39.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 11,445 shares of the oil and gas company’s stock worth $1,504,000 after buying an additional 3,261 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of several recent analyst reports. UBS Group lowered their target price 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. Morgan Stanley dropped their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. TD Cowen reduced their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Barclays lowered their price target on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Finally, Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $149.69.

Phillips 66 Trading Down 0.9 %

Shares of NYSE:PSX opened at $128.68 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12-month low of $119.77 and a 12-month high of $174.08. The business has a 50 day moving average of $130.84 and a two-hundred day moving average of $134.38. The company has a market capitalization of $53.14 billion, a PE ratio of 16.52, a PEG ratio of 4.24 and a beta of 1.35.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business posted $4.63 EPS. As a group, analysts forecast that Phillips 66 will post 7.59 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.57%. The ex-dividend date was Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

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.