Fruth Investment Management Has $1.68 Million Position in Phillips 66 (NYSE:PSX)

Fruth Investment Management cut its position in shares of Phillips 66 (NYSE:PSXFree Report) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,795 shares of the oil and gas company’s stock after selling 200 shares during the period. Fruth Investment Management’s holdings in Phillips 66 were worth $1,681,000 at the end of the most recent quarter.

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

Phillips 66 Price Performance

PSX stock opened at $135.50 on Tuesday. The company’s 50-day moving average price is $133.32 and its two-hundred day moving average price is $141.18. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The firm has a market cap of $57.45 billion, a P/E ratio of 10.42, a P/E/G ratio of 5.48 and a beta of 1.33.

Phillips 66 (NYSE:PSXGet Free Report) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The company’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the business earned $3.87 earnings per share. On average, analysts anticipate that Phillips 66 will post 8.19 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm 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 $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.39%. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now 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 the SEC website. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PSX. Morgan Stanley cut their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Mizuho cut their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Piper Sandler upped their target price on Phillips 66 from $136.00 to $144.00 and gave the company an “overweight” rating in a research report on Tuesday, October 8th. Barclays dropped their price target on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a report on Tuesday, October 8th. Finally, Scotiabank decreased their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $151.21.

Check Out Our Latest Stock Analysis on Phillips 66

Phillips 66 Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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