Marco Investment Management LLC Raises Stock Position in Phillips 66 (NYSE:PSX)

Marco Investment Management LLC boosted its position in shares of Phillips 66 (NYSE:PSX) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 77,922 shares of the oil and gas company’s stock after acquiring an additional 1,802 shares during the period. Marco Investment Management LLC’s holdings in Phillips 66 were worth $10,243,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PSX. Mizuho Securities USA LLC grew its stake in Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. Boston Partners grew its stake in Phillips 66 by 41.4% during the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after acquiring an additional 1,595,722 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Phillips 66 by 96.9% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after acquiring an additional 1,408,954 shares in the last quarter. ING Groep NV grew its stake in Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after buying an additional 653,032 shares in the last quarter. Finally, Mizuho Markets Americas LLC purchased a new position in Phillips 66 in the 3rd quarter worth approximately $70,983,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 1.4 %

Shares of PSX opened at $133.27 on Friday. The stock has a market capitalization of $55.04 billion, a P/E ratio of 17.11, a PEG ratio of 4.34 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. The firm has a fifty day simple moving average of $130.28 and a two-hundred day simple moving average of $135.35. Phillips 66 has a twelve month low of $117.32 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.63 EPS. On average, research analysts anticipate that Phillips 66 will post 7.57 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.45%. Phillips 66’s payout ratio is currently 59.05%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Morgan Stanley cut their price target 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 cut their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. TD Cowen cut their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. 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 research note on Wednesday, October 2nd. Finally, Bank of America initiated coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $149.69.

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.