Jacobs Levy Equity Management Inc. Grows Holdings in Phillips 66 (NYSE:PSX)

Jacobs Levy Equity Management Inc. grew its stake in shares of Phillips 66 (NYSE:PSX) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 598,318 shares of the oil and gas company’s stock after acquiring an additional 55,545 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 0.14% of Phillips 66 worth $78,649,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC boosted its stake in Phillips 66 by 359.5% during the third quarter. Janus Henderson Group PLC now owns 228,165 shares of the oil and gas company’s stock worth $29,992,000 after buying an additional 178,515 shares during the period. Hilltop Holdings Inc. grew its holdings in Phillips 66 by 301.4% in the 3rd quarter. Hilltop Holdings Inc. now owns 26,281 shares of the oil and gas company’s stock valued at $3,455,000 after buying an additional 19,733 shares in the last quarter. Holocene Advisors LP purchased a new position in Phillips 66 during the 3rd quarter valued at about $6,386,000. Community Bank N.A. boosted its stake in shares of Phillips 66 by 3.9% in the 3rd quarter. Community Bank N.A. now owns 16,977 shares of the oil and gas company’s stock valued at $2,232,000 after buying an additional 632 shares during the period. Finally, Benjamin Edwards Inc. lifted its stake in Phillips 66 by 557.0% in the third quarter. Benjamin Edwards Inc. now owns 30,072 shares of the oil and gas company’s stock valued at $3,954,000 after buying an additional 25,495 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 1.8 %

PSX stock opened at $136.43 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market capitalization of $56.34 billion, a PE ratio of 17.51, a P/E/G ratio of 4.37 and a beta of 1.35. The firm’s 50-day moving average is $130.68 and its 200 day moving average is $134.84. Phillips 66 has a 12 month low of $119.77 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last released its earnings results 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. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period last year, the business earned $4.63 EPS. Phillips 66’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, research analysts anticipate that Phillips 66 will post 7.66 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a dividend of $1.15 per share. The ex-dividend date was Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.37%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PSX shares. TD Cowen reduced their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Wells Fargo & Company cut their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Piper Sandler set a $144.00 target price on Phillips 66 in a research report on Thursday, October 17th. JPMorgan Chase & Co. reduced their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, Barclays reduced their price target on 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. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $149.69.

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.