UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $331.37 Million Stock Holdings in Phillips 66 (NYSE:PSX)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its stake in Phillips 66 (NYSE:PSX) by 4.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,520,845 shares of the oil and gas company’s stock after selling 119,292 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.61% of Phillips 66 worth $331,365,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Strategic Financial Concepts LLC acquired a new stake in Phillips 66 during the 2nd quarter worth approximately $26,000. nVerses Capital LLC bought a new position in Phillips 66 during the 3rd quarter worth $26,000. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 during the third quarter worth $30,000. Bank & Trust Co bought a new stake in shares of Phillips 66 in the second quarter valued at about $31,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Phillips 66 in the second quarter valued at about $34,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $134.02 on Friday. The company’s 50 day moving average price is $130.68 and its two-hundred day moving average price is $134.99. The firm has a market capitalization of $55.35 billion, a P/E ratio of 17.20, a P/E/G ratio of 4.35 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a fifty-two week low of $119.77 and a fifty-two 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 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The business 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 13.12% and a net margin of 2.24%. Phillips 66’s quarterly 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 EPS. On average, equities analysts forecast that Phillips 66 will post 7.66 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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 given a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.43%. Phillips 66’s dividend payout ratio is presently 59.05%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PSX. Bank of America started coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Barclays cut their price target 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. UBS Group lowered their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Morgan Stanley cut their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. dropped their price target on 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 eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $149.69.

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.