Holocene Advisors LP Makes New $6.39 Million Investment in Phillips 66 (NYSE:PSX)

Holocene Advisors LP acquired a new stake in Phillips 66 (NYSE:PSX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 48,585 shares of the oil and gas company’s stock, valued at approximately $6,386,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Phillips 66 by 5.0% in 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 in the last quarter. Legal & General Group Plc lifted its stake in Phillips 66 by 0.5% in the second quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock worth $522,240,000 after acquiring an additional 18,238 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Phillips 66 by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock worth $514,253,000 after acquiring an additional 111,261 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Phillips 66 by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock valued at $381,453,000 after purchasing an additional 16,941 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Phillips 66 by 2.9% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock valued at $397,193,000 after purchasing an additional 79,301 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 1.5 %

NYSE:PSX opened at $134.44 on Wednesday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock’s 50 day simple moving average is $130.88 and its 200-day simple moving average is $134.68. Phillips 66 has a 12-month low of $119.77 and a 12-month high of $174.08. The firm has a market cap of $55.52 billion, a P/E ratio of 17.26, a PEG ratio of 4.45 and a beta of 1.35.

Phillips 66 (NYSE:PSX) last announced 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. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the prior year, the firm earned $4.63 EPS. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. Equities analysts anticipate that Phillips 66 will post 7.66 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a $1.15 dividend. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.42%. Phillips 66’s payout ratio is currently 59.05%.

Wall Street Analyst Weigh In

PSX has been the topic of several recent analyst reports. Barclays dropped their target price on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Piper Sandler set a $144.00 target price on Phillips 66 in a research note on Thursday, October 17th. UBS Group dropped their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company lowered their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Finally, TD Cowen dropped their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $149.69.

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.