Heritage Investors Management Corp Trims Holdings in Phillips 66 (NYSE:PSX)

Heritage Investors Management Corp cut its holdings in Phillips 66 (NYSE:PSX) by 0.9% during the third quarter, HoldingsChannel reports. The firm owned 81,699 shares of the oil and gas company’s stock after selling 757 shares during the period. Heritage Investors Management Corp’s holdings in Phillips 66 were worth $10,739,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. Boston Partners increased its position in Phillips 66 by 41.4% during the 1st 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 during the period. Vanguard Group Inc. grew its holdings in Phillips 66 by 4.0% during the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after acquiring an additional 1,578,669 shares during the period. Price T Rowe Associates Inc. MD raised its position 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 worth $467,743,000 after acquiring an additional 1,408,954 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Phillips 66 by 5.0% in the second 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 acquiring an additional 402,925 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in shares of Phillips 66 by 1,087.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 432,003 shares of the oil and gas company’s stock worth $70,563,000 after purchasing an additional 395,617 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.22% of the stock is currently owned by corporate insiders.

Phillips 66 Stock Up 0.2 %

Phillips 66 stock traded up $0.19 during midday trading on Tuesday, hitting $121.22. 82,877 shares of the company were exchanged, compared to its average volume of 2,661,211. The company has a market cap of $50.06 billion, a PE ratio of 15.54, a price-to-earnings-growth ratio of 3.90 and a beta of 1.33. Phillips 66 has a fifty-two week low of $110.54 and a fifty-two week high of $174.08. The company’s fifty day moving average price is $130.98 and its 200-day moving average price is $137.30. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last posted its earnings results 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 for 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 for the quarter was down 10.3% compared to the same quarter last year. During the same period in the previous year, the company posted $4.63 earnings per share. On average, research analysts predict that Phillips 66 will post 7.69 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid 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 3.79%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PSX. JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Piper Sandler set a $144.00 price target on Phillips 66 in a report on Thursday, October 17th. Scotiabank dropped their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Mizuho decreased their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, Barclays lowered their price objective on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $150.38.

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.