AlphaCore Capital LLC Has $654,000 Stake in Phillips 66 (NYSE:PSX)

AlphaCore Capital LLC boosted its stake in Phillips 66 (NYSE:PSX) by 10.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,974 shares of the oil and gas company’s stock after buying an additional 451 shares during the quarter. AlphaCore Capital LLC’s holdings in Phillips 66 were worth $654,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Mitchell & Pahl Private Wealth LLC boosted its position in Phillips 66 by 0.4% during the second quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after purchasing an additional 74 shares during the period. Catalyst Financial Partners LLC boosted its holdings 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 valued at $214,000 after acquiring an additional 74 shares during the period. Advisory Alpha LLC grew its holdings in Phillips 66 by 4.8% in the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after buying an additional 76 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC lifted 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 buying an additional 77 shares during the last quarter. Finally, 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 worth $309,000 after acquiring an additional 82 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Scotiabank cut their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Wells Fargo & Company lowered their price target on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Mizuho reduced their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. TD Cowen lowered their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, Raymond James raised their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $149.69.

Phillips 66 Price Performance

Phillips 66 stock opened at $131.90 on Friday. The stock has a market cap of $54.47 billion, a price-to-earnings ratio of 16.93, a P/E/G ratio of 4.29 and a beta of 1.33. Phillips 66 has a 12-month low of $114.94 and a 12-month 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 business’s 50-day simple moving average is $130.15 and its 200 day simple moving average is $135.50.

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 (EPS) 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 firm had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same period last year, the firm earned $4.63 earnings per share. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, research analysts anticipate that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.49%. Phillips 66’s dividend payout ratio is 59.05%.

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.