Victory Capital Management Inc. Buys 135,142 Shares of Phillips 66 (NYSE:PSX)

Victory Capital Management Inc. boosted its stake in shares of Phillips 66 (NYSE:PSX) by 27.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 625,290 shares of the oil and gas company’s stock after buying an additional 135,142 shares during the quarter. Victory Capital Management Inc. owned approximately 0.15% of Phillips 66 worth $82,194,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Bleakley Financial Group LLC lifted its holdings in Phillips 66 by 4.9% during the 1st quarter. Bleakley Financial Group LLC now owns 8,649 shares of the oil and gas company’s stock valued at $1,413,000 after buying an additional 407 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in Phillips 66 by 10.7% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 58,808 shares of the oil and gas company’s stock valued at $9,606,000 after purchasing an additional 5,690 shares during the period. Beacon Investment Advisory Services Inc. purchased a new position in Phillips 66 during the 1st quarter valued at about $307,000. Blair William & Co. IL increased its position in Phillips 66 by 4.5% during the 1st quarter. Blair William & Co. IL now owns 187,152 shares of the oil and gas company’s stock valued at $30,569,000 after purchasing an additional 8,102 shares during the period. Finally, Orion Portfolio Solutions LLC increased its position in Phillips 66 by 13.0% during the 1st quarter. Orion Portfolio Solutions LLC now owns 17,456 shares of the oil and gas company’s stock valued at $2,851,000 after purchasing an additional 2,009 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of research reports. Morgan Stanley cut their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Raymond James raised their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Barclays cut their target price on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research report on Thursday, October 17th. Finally, Scotiabank cut their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Stock Up 1.7 %

PSX stock opened at $129.92 on Thursday. The firm has a 50 day moving average of $129.73 and a 200 day moving average of $136.04. The stock has a market capitalization of $53.66 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 4.18 and a beta of 1.33. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 52 week low of $111.90 and a 52 week 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 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The company 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%. Phillips 66’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period last year, the business earned $4.63 EPS. Sell-side analysts forecast that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Announces Dividend

The business 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 $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is 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.