Phillips 66 (NYSE:PSX) Shares Acquired by EP Wealth Advisors LLC

EP Wealth Advisors LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 39.8% during the 3rd quarter, Holdings Channel.com reports. The firm owned 11,445 shares of the oil and gas company’s stock after purchasing an additional 3,261 shares during the quarter. EP Wealth Advisors LLC’s holdings in Phillips 66 were worth $1,504,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. nVerses Capital LLC bought a new stake in shares of Phillips 66 in the third quarter worth $26,000. Values First Advisors Inc. bought a new stake in shares of Phillips 66 in the 3rd quarter worth approximately $30,000. Kings Path Partners LLC acquired a new position in Phillips 66 during the 2nd quarter valued at approximately $38,000. Industrial Alliance Investment Management Inc. acquired a new position in Phillips 66 during the 2nd quarter worth $40,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Phillips 66 in the 3rd quarter worth approximately $40,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PSX has been the topic of several research reports. Barclays dropped their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price target for the company. Morgan Stanley decreased their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. TD Cowen decreased their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, Scotiabank cut their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $149.23.

Phillips 66 Price Performance

Phillips 66 stock opened at $130.09 on Tuesday. The stock’s 50 day moving average is $130.81 and its 200-day moving average is $134.30. Phillips 66 has a 12 month low of $119.77 and a 12 month high of $174.08. The company has a market capitalization of $53.72 billion, a price-to-earnings ratio of 16.70, a PEG ratio of 4.24 and a beta of 1.35. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its 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 firm 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 company’s revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $4.63 EPS. Equities research analysts expect that Phillips 66 will post 7.59 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend was Monday, November 18th. Phillips 66’s 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.