Quest Partners LLC Raises Position in Phillips 66 (NYSE:PSX)

Quest Partners LLC boosted its position in Phillips 66 (NYSE:PSX) by 324,800.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,249 shares of the oil and gas company’s stock after purchasing an additional 3,248 shares during the period. Quest Partners LLC’s holdings in Phillips 66 were worth $427,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Mitchell & Pahl Private Wealth LLC grew its stake in shares of Phillips 66 by 0.4% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after acquiring an additional 74 shares during the period. Catalyst Financial Partners LLC boosted its position in Phillips 66 by 5.1% during the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after purchasing an additional 74 shares during the period. Advisory Alpha LLC increased its stake in shares of Phillips 66 by 4.8% in the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after purchasing an additional 76 shares in the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its position in shares of Phillips 66 by 1.8% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock valued at $616,000 after purchasing an additional 77 shares during the period. Finally, Krane Funds Advisors LLC boosted its holdings in Phillips 66 by 3.6% in the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after buying an additional 82 shares during the period. 76.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. TD Cowen lowered their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. UBS Group dropped their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Raymond James lifted their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Scotiabank lowered their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Finally, Mizuho cut their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Stock Performance

Phillips 66 stock opened at $133.27 on Monday. Phillips 66 has a fifty-two week low of $117.32 and a fifty-two week high of $174.08. The firm’s fifty day moving average price is $130.28 and its 200-day moving average price is $135.27. The stock has a market cap of $55.04 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 4.34 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analyst estimates 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 in the previous year, the company posted $4.63 earnings per share. On average, equities research analysts expect that Phillips 66 will post 7.57 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

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.