Empowered Funds LLC Decreases Stock Holdings in Phillips 66 (NYSE:PSX)

Empowered Funds LLC lowered its holdings in Phillips 66 (NYSE:PSX) by 8.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 153,052 shares of the oil and gas company’s stock after selling 13,599 shares during the period. Empowered Funds LLC’s holdings in Phillips 66 were worth $20,119,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Empirical Finance LLC boosted its stake in Phillips 66 by 1.4% in the third quarter. Empirical Finance LLC now owns 19,236 shares of the oil and gas company’s stock valued at $2,529,000 after acquiring an additional 261 shares during the last quarter. Signature Estate & Investment Advisors LLC raised its stake in Phillips 66 by 7.1% in the 3rd quarter. Signature Estate & Investment Advisors LLC now owns 1,892 shares of the oil and gas company’s stock valued at $249,000 after acquiring an additional 126 shares during the period. Dearborn Partners LLC raised its position in shares of Phillips 66 by 3.2% in the third quarter. Dearborn Partners LLC now owns 6,167 shares of the oil and gas company’s stock valued at $811,000 after purchasing an additional 193 shares during the period. CIBC Asset Management Inc boosted its holdings in Phillips 66 by 6.1% in the 3rd quarter. CIBC Asset Management Inc now owns 71,833 shares of the oil and gas company’s stock worth $9,442,000 after buying an additional 4,146 shares during the period. Finally, ING Groep NV raised its holdings in Phillips 66 by 123.2% during the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after acquiring an additional 653,032 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on PSX. Raymond James boosted their price objective on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. cut their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Scotiabank decreased 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. Morgan Stanley dropped their price objective on 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. Finally, TD Cowen decreased their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Stock Up 0.6 %

NYSE PSX opened at $130.52 on Friday. Phillips 66 has a 52 week low of $111.90 and a 52 week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $53.90 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 4.26 and a beta of 1.33. The stock’s 50-day moving average price is $129.68 and its 200-day moving average price is $136.00.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the business posted $4.63 earnings per share. On average, equities research analysts predict that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Dividend Announcement

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. This represents a $4.60 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

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.