Mutual Advisors LLC Buys 5,663 Shares of Phillips 66 (NYSE:PSX)

Mutual Advisors LLC grew its stake in shares of Phillips 66 (NYSE:PSX) by 63.7% in the third quarter, HoldingsChannel.com reports. The fund owned 14,551 shares of the oil and gas company’s stock after acquiring an additional 5,663 shares during the quarter. Mutual Advisors LLC’s holdings in Phillips 66 were worth $1,870,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of PSX. FORVIS Wealth Advisors LLC grew its stake in Phillips 66 by 2.4% during the first quarter. FORVIS Wealth Advisors LLC now owns 3,534 shares of the oil and gas company’s stock worth $577,000 after buying an additional 83 shares in the last quarter. Norden Group LLC boosted its position in shares of Phillips 66 by 73.2% during the 1st quarter. Norden Group LLC now owns 3,743 shares of the oil and gas company’s stock worth $611,000 after acquiring an additional 1,582 shares in the last quarter. Mission Wealth Management LP increased its stake in Phillips 66 by 3.8% in the first quarter. Mission Wealth Management LP now owns 5,066 shares of the oil and gas company’s stock valued at $827,000 after acquiring an additional 187 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Phillips 66 by 42.3% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock valued at $21,844,000 after purchasing an additional 39,775 shares in the last quarter. Finally, Schear Investment Advisers LLC lifted its stake in Phillips 66 by 25.5% during the first quarter. Schear Investment Advisers LLC now owns 6,152 shares of the oil and gas company’s stock worth $1,005,000 after purchasing an additional 1,251 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Piper Sandler set a $144.00 price target on Phillips 66 in a research note on Thursday, October 17th. Scotiabank decreased their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Barclays dropped their target price on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating for the company in a report on Tuesday, October 8th. Wolfe Research started coverage on shares of Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $151.42.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Down 0.2 %

Shares of NYSE:PSX opened at $121.82 on Friday. The business has a fifty day simple moving average of $131.58 and a 200 day simple moving average of $138.09. Phillips 66 has a 12-month low of $110.54 and a 12-month high of $174.08. The firm has a market cap of $50.99 billion, a P/E ratio of 15.64, a P/E/G ratio of 5.47 and a beta of 1.33. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the firm earned $4.63 earnings per share. Analysts predict that Phillips 66 will post 7.81 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 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.