Davis R M Inc. Decreases Stock Position in Phillips 66 (NYSE:PSX)

Davis R M Inc. reduced its position in Phillips 66 (NYSE:PSX) by 2.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 348,460 shares of the oil and gas company’s stock after selling 7,103 shares during the quarter. Davis R M Inc. owned about 0.08% of Phillips 66 worth $45,805,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Estate Counselors LLC lifted its stake in shares of Phillips 66 by 7.2% in the third quarter. Estate Counselors LLC now owns 13,525 shares of the oil and gas company’s stock worth $1,778,000 after buying an additional 910 shares in the last quarter. Daiwa Securities Group Inc. lifted its stake in Phillips 66 by 13.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 62,260 shares of the oil and gas company’s stock worth $8,184,000 after purchasing an additional 7,235 shares in the last quarter. Marco Investment Management LLC boosted its holdings in shares of Phillips 66 by 2.4% during the 3rd quarter. Marco Investment Management LLC now owns 77,922 shares of the oil and gas company’s stock worth $10,243,000 after purchasing an additional 1,802 shares during the last quarter. Summit Trail Advisors LLC grew its position in shares of Phillips 66 by 18.0% in the third quarter. Summit Trail Advisors LLC now owns 9,604 shares of the oil and gas company’s stock valued at $1,262,000 after purchasing an additional 1,464 shares in the last quarter. Finally, Cahill Financial Advisors Inc. increased its holdings in shares of Phillips 66 by 7.8% in the third quarter. Cahill Financial Advisors Inc. now owns 1,734 shares of the oil and gas company’s stock valued at $228,000 after purchasing an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 1.4 %

Shares of PSX stock opened at $133.27 on Monday. The company has a market capitalization of $55.04 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 4.40 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 firm has a 50-day moving average price of $130.28 and a 200 day moving average price of $135.27. Phillips 66 has a twelve month low of $117.32 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the previous year, the business posted $4.63 earnings per share. The company’s revenue was down 10.3% on a year-over-year basis. Research analysts forecast that Phillips 66 will post 7.57 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.45%. Phillips 66’s payout ratio is currently 59.05%.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of recent research reports. Barclays cut their target price on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Mizuho decreased their target price 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. Raymond James raised their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Piper Sandler set a $144.00 target price on Phillips 66 in a research report on Thursday, October 17th. Finally, Scotiabank decreased their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

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.