Phillips 66 (NYSE:PSX) Shares Sold by Paloma Partners Management Co

Paloma Partners Management Co lowered its position in Phillips 66 (NYSE:PSX) by 51.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,638 shares of the oil and gas company’s stock after selling 16,796 shares during the period. Paloma Partners Management Co’s holdings in Phillips 66 were worth $2,056,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. nVerses Capital LLC acquired a new stake in Phillips 66 in the 3rd quarter valued at $26,000. Bank & Trust Co purchased a new stake in shares of Phillips 66 during the second quarter worth about $31,000. Values First Advisors Inc. acquired a new position in shares of Phillips 66 during the 3rd quarter worth about $30,000. Opal Wealth Advisors LLC purchased a new position in Phillips 66 in the 2nd quarter valued at about $34,000. Finally, Fortitude Family Office LLC boosted its holdings in Phillips 66 by 52.3% in the 2nd quarter. Fortitude Family Office LLC now owns 265 shares of the oil and gas company’s stock worth $37,000 after buying an additional 91 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 0.5 %

Shares of NYSE PSX opened at $133.98 on Monday. The stock has a market capitalization of $55.33 billion, a PE ratio of 17.20, a PEG ratio of 4.37 and a beta of 1.33. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a fifty day simple moving average of $130.68 and a 200-day simple moving average of $134.84. Phillips 66 has a twelve month low of $119.77 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same quarter last year, the firm posted $4.63 earnings per share. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. On average, equities analysts forecast that Phillips 66 will post 7.66 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.43%. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. UBS Group reduced their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Scotiabank decreased 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. TD Cowen decreased their price target 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. Wells Fargo & Company dropped their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Finally, Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $149.69.

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.