South Street Advisors LLC Has $989,000 Stock Holdings in Phillips 66 (NYSE:PSX)

South Street Advisors LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 4.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 7,520 shares of the oil and gas company’s stock after acquiring an additional 350 shares during the quarter. South Street Advisors LLC’s holdings in Phillips 66 were worth $989,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PSX. Mizuho Securities USA LLC increased its stake in Phillips 66 by 7,549.0% during the third 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 acquiring an additional 2,467,316 shares during the period. Mizuho Markets Americas LLC bought a new position in Phillips 66 during the third quarter valued at about $70,983,000. Northcape Wealth Management LLC increased its stake in Phillips 66 by 5.9% during the third quarter. Northcape Wealth Management LLC now owns 2,689 shares of the oil and gas company’s stock valued at $353,000 after acquiring an additional 150 shares during the period. Altrius Capital Management Inc grew its stake in shares of Phillips 66 by 10.2% in the 3rd quarter. Altrius Capital Management Inc now owns 32,565 shares of the oil and gas company’s stock valued at $4,281,000 after purchasing an additional 3,004 shares during the period. Finally, Archer Investment Corp grew its stake in shares of Phillips 66 by 56.4% in the 3rd quarter. Archer Investment Corp now owns 1,573 shares of the oil and gas company’s stock valued at $207,000 after purchasing an additional 567 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.9 %

NYSE:PSX traded up $1.15 during trading hours on Friday, hitting $130.91. 2,275,131 shares of the stock were exchanged, compared to its average volume of 2,662,619. The company’s 50 day moving average is $129.75 and its two-hundred day moving average is $135.81. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $54.06 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 4.26 and a beta of 1.33. Phillips 66 has a twelve month low of $111.90 and a twelve month high of $174.08.

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 for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion for 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 firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.63 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is currently 59.05%.

Wall Street Analysts Forecast Growth

PSX has been the topic of several analyst reports. UBS Group lowered their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. TD Cowen lowered their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Mizuho lowered their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Piper Sandler set a $144.00 price objective on Phillips 66 in a research note on Thursday, October 17th. Finally, Raymond James upped their price objective on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average 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.