Wahed Invest LLC Boosts Stake in Phillips 66 (NYSE:PSX)

Wahed Invest LLC increased its position in Phillips 66 (NYSE:PSX) by 6.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 10,159 shares of the oil and gas company’s stock after purchasing an additional 644 shares during the period. Wahed Invest LLC’s holdings in Phillips 66 were worth $1,335,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Strategic Financial Concepts LLC purchased a new stake in shares of Phillips 66 in the 2nd quarter valued at about $26,000. nVerses Capital LLC purchased a new stake in shares of Phillips 66 in the 3rd quarter valued at about $26,000. Values First Advisors Inc. purchased a new stake in shares of Phillips 66 in the 3rd quarter valued at about $30,000. Opal Wealth Advisors LLC purchased a new stake in shares of Phillips 66 in the 2nd quarter valued at about $34,000. Finally, Kings Path Partners LLC purchased a new stake in shares of Phillips 66 in the 2nd quarter valued at about $38,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Down 0.6 %

Shares of Phillips 66 stock opened at $129.87 on Friday. The business has a 50-day moving average of $130.88 and a 200-day moving average of $134.62. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market capitalization of $53.64 billion, a PE ratio of 16.67, a P/E/G ratio of 4.39 and a beta of 1.35. Phillips 66 has a 1-year low of $119.77 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its 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 company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company’s revenue was down 10.3% on a year-over-year basis. During the same period last year, the firm earned $4.63 earnings per share. As a group, equities analysts forecast that Phillips 66 will post 7.66 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. Phillips 66’s dividend payout ratio is presently 59.05%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PSX. UBS Group dropped 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. Mizuho dropped their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Scotiabank dropped their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley dropped their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, Bank of America started coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.