Whitener Capital Management Inc. Increases Position in Phillips 66 (NYSE:PSX)

Whitener Capital Management Inc. lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,419 shares of the oil and gas company’s stock after acquiring an additional 300 shares during the quarter. Whitener Capital Management Inc.’s holdings in Phillips 66 were worth $712,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of PSX. Crewe Advisors LLC bought a new stake in Phillips 66 in the first quarter valued at about $25,000. Keener Financial Planning LLC bought a new stake in Phillips 66 in the first quarter valued at about $26,000. Strategic Financial Concepts LLC bought a new stake in Phillips 66 in the second quarter valued at about $26,000. nVerses Capital LLC bought a new stake in Phillips 66 in the third quarter valued at about $26,000. Finally, Values First Advisors Inc. bought a new stake in Phillips 66 in the third quarter valued at about $30,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Mizuho lowered their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Raymond James boosted their price objective on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. TD Cowen lowered their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Barclays lowered their target price on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. lowered their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $151.42.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $120.01 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62. The stock has a 50 day simple moving average of $131.27 and a 200-day simple moving average of $137.67. The company has a market cap of $49.56 billion, a PE ratio of 15.41, a P/E/G ratio of 3.92 and a beta of 1.33. Phillips 66 has a 12-month low of $110.54 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm posted $4.63 earnings per share. On average, equities research analysts forecast that Phillips 66 will post 7.77 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.83%. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s 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 sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.22% of the stock is currently owned by insiders.

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.