Ingalls & Snyder LLC Has $1.20 Million Position in Phillips 66 (NYSE:PSX)

Ingalls & Snyder LLC trimmed its position in shares of Phillips 66 (NYSE:PSX) by 10.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,127 shares of the oil and gas company’s stock after selling 1,038 shares during the quarter. Ingalls & Snyder LLC’s holdings in Phillips 66 were worth $1,200,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in PSX. Strategic Financial Concepts LLC bought a new stake in Phillips 66 during the 2nd quarter worth approximately $26,000. nVerses Capital LLC bought a new stake in shares of Phillips 66 in the third quarter worth $26,000. Values First Advisors Inc. bought a new stake in shares of Phillips 66 in the third quarter worth $30,000. Opal Wealth Advisors LLC bought a new position in Phillips 66 during the 2nd quarter worth $34,000. Finally, Fortitude Family Office LLC lifted its holdings in Phillips 66 by 52.3% during the 2nd quarter. Fortitude Family Office LLC now owns 265 shares of the oil and gas company’s stock worth $37,000 after buying an additional 91 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PSX. Barclays decreased their price target on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Mizuho decreased 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 report on Monday, September 16th. Wells Fargo & Company dropped their price target on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley decreased their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, UBS Group dropped their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Trading Down 1.5 %

Shares of Phillips 66 stock opened at $134.44 on Wednesday. The stock has a market capitalization of $55.52 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 4.45 and a beta of 1.35. Phillips 66 has a 52 week low of $119.77 and a 52 week high of $174.08. The stock has a 50 day moving average price of $130.88 and a two-hundred day moving average price of $134.68. 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 posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the firm posted $4.63 EPS. Phillips 66’s revenue was down 10.3% compared to the same quarter last year. As a group, equities analysts anticipate that Phillips 66 will post 7.66 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were issued 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 dividend yield of 3.42%. Phillips 66’s dividend payout ratio 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.