Phillips 66 (NYSE:PSX) Stake Lifted by Empower Advisory Group LLC

Empower Advisory Group LLC increased its stake in Phillips 66 (NYSE:PSX) by 9.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,463 shares of the oil and gas company’s stock after acquiring an additional 204 shares during the period. Empower Advisory Group LLC’s holdings in Phillips 66 were worth $324,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Moser Wealth Advisors LLC boosted its holdings in shares of Phillips 66 by 2.1% in the third quarter. Moser Wealth Advisors LLC now owns 17,412 shares of the oil and gas company’s stock valued at $2,289,000 after acquiring an additional 358 shares in the last quarter. RPG Investment Advisory LLC lifted its stake in Phillips 66 by 2.7% during the third quarter. RPG Investment Advisory LLC now owns 67,162 shares of the oil and gas company’s stock valued at $8,828,000 after purchasing an additional 1,783 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Phillips 66 by 27.6% during the third quarter. Victory Capital Management Inc. now owns 625,290 shares of the oil and gas company’s stock valued at $82,194,000 after purchasing an additional 135,142 shares during the last quarter. Aigen Investment Management LP lifted its stake in Phillips 66 by 45.7% during the third quarter. Aigen Investment Management LP now owns 39,723 shares of the oil and gas company’s stock valued at $5,222,000 after purchasing an additional 12,461 shares during the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its stake in Phillips 66 by 28.6% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 2,143 shares of the oil and gas company’s stock valued at $282,000 after purchasing an additional 477 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on PSX shares. Bank of America started coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 target price for the company. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research note on Thursday, October 17th. Mizuho cut their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. TD Cowen cut their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Raymond James upped their price target 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. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Stock Up 0.9 %

Phillips 66 stock opened at $130.91 on Friday. The firm has a market cap of $54.06 billion, a PE ratio of 16.80, a P/E/G ratio of 4.26 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm’s 50 day moving average price is $129.70 and its two-hundred day moving average price is $135.96. Phillips 66 has a twelve month low of $111.90 and a twelve month high of $174.08.

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 the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for 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%. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.63 EPS. On average, research analysts predict that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders 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 annualized dividend and a dividend yield of 3.51%. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Phillips 66 Profile

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.