Advisors Asset Management Inc. Sells 6,374 Shares of Phillips 66 (NYSE:PSX)

Advisors Asset Management Inc. lessened its holdings in Phillips 66 (NYSE:PSX) by 8.0% during the third quarter, Holdings Channel reports. The fund owned 72,979 shares of the oil and gas company’s stock after selling 6,374 shares during the period. Advisors Asset Management Inc.’s holdings in Phillips 66 were worth $9,593,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Crewe Advisors LLC bought a new position in Phillips 66 in the 1st quarter valued at about $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Phillips 66 in the second quarter valued at approximately $26,000. nVerses Capital LLC bought a new stake in shares of Phillips 66 in the third quarter valued at approximately $26,000. Values First Advisors Inc. acquired a new stake in Phillips 66 during the third quarter worth approximately $30,000. Finally, Bank & Trust Co acquired a new stake in Phillips 66 during the second quarter worth about $31,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Morgan Stanley cut their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Piper Sandler set a $144.00 target price on Phillips 66 in a report on Thursday, October 17th. TD Cowen reduced their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Bank of America started coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 target price for the company. Finally, Barclays decreased their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Trading Up 0.4 %

NYSE:PSX opened at $131.41 on Thursday. Phillips 66 has a 52 week low of $114.94 and a 52 week high of $174.08. 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 fifty day moving average is $130.03 and its 200-day moving average is $135.52. The firm has a market cap of $54.27 billion, a P/E ratio of 16.87, a P/E/G ratio of 4.29 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same period last year, the business posted $4.63 EPS. Equities analysts expect that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.50%. Phillips 66’s dividend payout ratio is currently 59.05%.

Phillips 66 Company 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.