Dearborn Partners LLC Has $811,000 Stock Position in Phillips 66 (NYSE:PSX)

Dearborn Partners LLC lifted its position in Phillips 66 (NYSE:PSX) by 3.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,167 shares of the oil and gas company’s stock after buying an additional 193 shares during the period. Dearborn Partners LLC’s holdings in Phillips 66 were worth $811,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Crewe Advisors LLC bought a new position in Phillips 66 in the first quarter valued at approximately $25,000. Strategic Financial Concepts LLC bought a new stake in Phillips 66 in the 2nd quarter valued at $26,000. nVerses Capital LLC acquired a new position in Phillips 66 in the 3rd quarter worth $26,000. Values First Advisors Inc. bought a new position in Phillips 66 during the 3rd quarter worth about $30,000. Finally, Bank & Trust Co acquired a new stake in shares of Phillips 66 in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on PSX shares. Barclays reduced their price objective on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Wells Fargo & Company reduced their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Mizuho lowered their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a report on Thursday, October 17th. Finally, TD Cowen decreased their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $149.69.

Phillips 66 Stock Up 0.9 %

Shares of PSX stock opened at $130.91 on Friday. Phillips 66 has a 52-week low of $111.90 and a 52-week high of $174.08. The stock has a market cap of $54.06 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 4.26 and a beta of 1.33. The firm’s 50-day moving average is $129.70 and its 200-day moving average is $135.96. 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 released its quarterly earnings data 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 return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the prior year, the company earned $4.63 earnings per share. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. Sell-side analysts predict that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is 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.