Phillips 66 (NYSE:PSX) Shares Bought by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 4.4% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 20,574 shares of the oil and gas company’s stock after purchasing an additional 865 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Phillips 66 were worth $2,704,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Crewe Advisors LLC purchased a new stake in Phillips 66 during the 1st quarter worth $25,000. nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the third quarter valued at about $26,000. Bank & Trust Co purchased a new stake in shares of Phillips 66 during the 2nd quarter valued at about $31,000. Values First Advisors Inc. acquired a new position in Phillips 66 during the 3rd quarter worth approximately $30,000. Finally, Opal Wealth Advisors LLC purchased a new position in Phillips 66 in the 2nd quarter worth approximately $34,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 5.0 %

Phillips 66 stock opened at $127.91 on Thursday. The firm has a 50-day moving average price of $130.59 and a two-hundred day moving average price of $137.00. Phillips 66 has a 52-week low of $110.54 and a 52-week high of $174.08. The firm has a market capitalization of $52.83 billion, a price-to-earnings ratio of 16.42, a PEG ratio of 3.94 and a beta of 1.33. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The business 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 business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the prior year, the company posted $4.63 EPS. Sell-side analysts expect that Phillips 66 will post 7.69 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Analysts Set New Price Targets

PSX has been the topic of a number of recent research reports. Morgan Stanley reduced their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. lowered their target price 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. Barclays cut their price target on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Scotiabank dropped their price objective on 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, Wells Fargo & Company reduced their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $150.38.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated 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 directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.22% of the company’s stock.

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.