New Millennium Group LLC Has $206,000 Stock Position in Phillips 66 (NYSE:PSX)

New Millennium Group LLC cut its stake in Phillips 66 (NYSE:PSX) by 60.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,571 shares of the oil and gas company’s stock after selling 2,358 shares during the period. New Millennium Group LLC’s holdings in Phillips 66 were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mitchell & Pahl Private Wealth LLC lifted its stake in shares of Phillips 66 by 0.4% during the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after buying an additional 74 shares during the last quarter. Catalyst Financial Partners LLC lifted its position in Phillips 66 by 5.1% during the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock worth $214,000 after acquiring an additional 74 shares during the last quarter. Advisory Alpha LLC boosted its holdings 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 acquiring an additional 76 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of Phillips 66 by 1.8% during 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 acquiring an additional 77 shares during the period. Finally, Krane Funds Advisors LLC grew its position 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 purchasing an additional 82 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PSX. Bank of America began coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. UBS Group reduced their price target 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. Piper Sandler set a $144.00 price objective on Phillips 66 in a report on Thursday, October 17th. Wells Fargo & Company reduced their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Finally, Scotiabank dropped their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $131.32 on Tuesday. The stock has a market cap of $54.23 billion, a price-to-earnings ratio of 16.86, a P/E/G ratio of 4.29 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 has a twelve month low of $114.94 and a twelve month high of $174.08. The company’s fifty day moving average is $129.82 and its 200 day moving average is $135.64.

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. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same period last year, the company earned $4.63 earnings per share. The firm’s revenue was down 10.3% compared to the same quarter last year. Sell-side analysts forecast that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.50%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Phillips 66 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.