Asset Advisors Investment Management LLC Cuts Position in Phillips 66 (NYSE:PSX)

Asset Advisors Investment Management LLC reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 15.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,750 shares of the oil and gas company’s stock after selling 332 shares during the period. Asset Advisors Investment Management LLC’s holdings in Phillips 66 were worth $230,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in PSX. Catalyst Financial Partners LLC boosted its position in Phillips 66 by 5.1% during the 2nd 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 lifted its stake in shares of Phillips 66 by 4.8% during 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 boosted 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 worth $616,000 after buying an additional 77 shares during the period. Krane Funds Advisors LLC grew its stake in shares of Phillips 66 by 3.6% in the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock valued at $309,000 after buying an additional 82 shares in the last quarter. Finally, Richwood Investment Advisors LLC raised its holdings in shares of Phillips 66 by 1.9% during the 3rd quarter. Richwood Investment Advisors LLC now owns 4,580 shares of the oil and gas company’s stock valued at $602,000 after buying an additional 85 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Phillips 66 stock opened at $123.99 on Friday. The company has a market cap of $51.21 billion, a PE ratio of 15.92, a P/E/G ratio of 4.14 and a beta of 1.35. Phillips 66 has a 12 month low of $119.77 and a 12 month high of $174.08. The company has a fifty day moving average price of $130.18 and a two-hundred day moving average price of $134.05. 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 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating 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 business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the prior year, the firm earned $4.63 EPS. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. Research analysts expect that Phillips 66 will post 7.56 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a dividend of $1.15 per share. The ex-dividend date was Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.71%. Phillips 66’s dividend payout ratio is currently 59.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PSX shares. TD Cowen decreased their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Morgan Stanley decreased their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Mizuho dropped their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Wells Fargo & Company decreased their price objective on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research report on Monday. Finally, UBS Group dropped their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $149.23.

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.