Estate Counselors LLC Boosts Stake in Phillips 66 (NYSE:PSX)

Estate Counselors LLC boosted its holdings in Phillips 66 (NYSE:PSX) by 7.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,525 shares of the oil and gas company’s stock after acquiring an additional 910 shares during the quarter. Estate Counselors LLC’s holdings in Phillips 66 were worth $1,778,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PSX. Mizuho Securities USA LLC increased its stake in Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after purchasing an additional 2,467,316 shares in the last quarter. Boston Partners boosted its position in Phillips 66 by 41.4% during the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after purchasing an additional 1,595,722 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Phillips 66 by 96.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after purchasing an additional 1,408,954 shares during the last quarter. ING Groep NV increased its position in shares of Phillips 66 by 123.2% in the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after buying an additional 653,032 shares in the last quarter. Finally, Mizuho Markets Americas LLC acquired a new position in shares of Phillips 66 during the 3rd quarter worth $70,983,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX opened at $133.27 on Friday. Phillips 66 has a twelve month low of $117.32 and a twelve month high of $174.08. The firm has a market cap of $55.04 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 4.34 and a beta of 1.33. 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 company has a fifty day simple moving average of $130.28 and a 200 day simple moving average of $135.35.

Phillips 66 (NYSE:PSX) last announced its earnings results 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. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same period last year, the firm earned $4.63 earnings per share. The company’s revenue was down 10.3% on a year-over-year basis. Equities research analysts expect that Phillips 66 will post 7.57 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced 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. This represents a $4.60 annualized dividend and a dividend yield of 3.45%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is currently 59.05%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PSX. Morgan Stanley dropped their target price 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. TD Cowen dropped their price objective 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. Raymond James lifted their price objective on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. UBS Group lowered their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Piper Sandler set a $144.00 price target on Phillips 66 in a report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.69.

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.