Sanctuary Advisors LLC Lowers Position in Phillips 66 (NYSE:PSX)

Sanctuary Advisors LLC lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 5.9% in the third quarter, HoldingsChannel.com reports. The fund owned 103,642 shares of the oil and gas company’s stock after selling 6,489 shares during the period. Sanctuary Advisors LLC’s holdings in Phillips 66 were worth $13,812,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of PSX. Van ECK Associates Corp increased its stake in Phillips 66 by 263.3% in the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after acquiring an additional 60,355 shares during the last quarter. Mizuho Securities USA LLC boosted its holdings in shares of Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares in the last quarter. Nwam LLC bought a new position in shares of Phillips 66 during the 3rd quarter valued at about $498,000. Olympiad Research LP purchased a new position in shares of Phillips 66 during the 3rd quarter valued at about $607,000. Finally, Principal Financial Group Inc. lifted its position in Phillips 66 by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock worth $69,775,000 after buying an additional 14,209 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX opened at $122.72 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a market capitalization of $50.68 billion, a PE ratio of 15.75, a price-to-earnings-growth ratio of 4.14 and a beta of 1.35. The stock’s 50 day moving average price is $129.86 and its 200-day moving average price is $133.91. Phillips 66 has a 52-week low of $119.77 and a 52-week 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 EPS for the quarter, topping the consensus estimate 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. The company’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $4.63 EPS. On average, equities research analysts predict that Phillips 66 will post 7.56 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a $1.15 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.75%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Wall Street Analyst Weigh In

Several research firms have commented on PSX. UBS Group decreased their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Bank of America began coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Barclays cut their price target on shares of 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. Mizuho decreased their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Finally, Piper Sandler set a $144.00 target price on Phillips 66 in a research note on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $149.23.

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.