Charles Schwab Investment Management Inc. Increases Stake in Phillips 66 (NYSE:PSX)

Charles Schwab Investment Management Inc. raised its holdings in shares of Phillips 66 (NYSE:PSX) by 0.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 2,901,887 shares of the oil and gas company’s stock after acquiring an additional 16,941 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Phillips 66 were worth $381,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Strategic Financial Concepts LLC purchased a new position in Phillips 66 during the second quarter valued at $26,000. nVerses Capital LLC bought a new position in shares of Phillips 66 in the third quarter worth about $26,000. Values First Advisors Inc. purchased a new position in shares of Phillips 66 during the 3rd quarter valued at about $30,000. Bank & Trust Co purchased a new stake in Phillips 66 in the 2nd quarter worth approximately $31,000. Finally, Opal Wealth Advisors LLC bought a new stake in Phillips 66 during the 2nd quarter worth approximately $34,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Bank of America started coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. TD Cowen dropped their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Piper Sandler set a $144.00 price target on Phillips 66 in a report on Thursday, October 17th. Wells Fargo & Company lowered their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Finally, Raymond James increased their target price on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Stock Up 1.4 %

NYSE PSX opened at $133.28 on Friday. The stock has a 50 day moving average price of $130.28 and a 200-day moving average price of $135.42. Phillips 66 has a one year low of $117.32 and a one year high of $174.08. The company has a market capitalization of $55.04 billion, a P/E ratio of 17.11, a P/E/G ratio of 4.34 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.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data 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 business 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% on a year-over-year basis. During the same period last year, the company posted $4.63 EPS. As a group, equities analysts predict that Phillips 66 will post 7.57 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.45%. Phillips 66’s dividend payout ratio (DPR) is presently 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.