1,531 Shares in Phillips 66 (NYSE:PSX) Acquired by Old North State Trust LLC

Old North State Trust LLC acquired a new stake in Phillips 66 (NYSE:PSX) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,531 shares of the oil and gas company’s stock, valued at approximately $201,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in shares of Phillips 66 by 74.2% in the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,287 shares of the oil and gas company’s stock worth $459,000 after acquiring an additional 1,400 shares during the last quarter. Silver Lake Advisory LLC acquired a new position in shares of Phillips 66 in the 2nd quarter worth approximately $280,000. Valley National Advisers Inc. raised its holdings in shares of Phillips 66 by 18.9% during the second quarter. Valley National Advisers Inc. now owns 1,105 shares of the oil and gas company’s stock worth $155,000 after purchasing an additional 176 shares during the period. Miracle Mile Advisors LLC raised its stake in Phillips 66 by 2.1% during the second quarter. Miracle Mile Advisors LLC now owns 23,294 shares of the oil and gas company’s stock worth $3,288,000 after acquiring an additional 473 shares during the period. Finally, Old Port Advisors raised its position in shares of Phillips 66 by 8.7% during the 2nd quarter. Old Port Advisors now owns 1,650 shares of the oil and gas company’s stock worth $233,000 after purchasing an additional 132 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 1.1 %

Phillips 66 stock opened at $123.99 on Friday. The company has a market cap of $51.21 billion, a P/E ratio of 15.92, a P/E/G ratio of 4.14 and a beta of 1.35. 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 has a 50-day simple moving average of $130.18 and a two-hundred day simple moving average of $134.05. Phillips 66 has a 52-week low of $119.77 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the business posted $4.63 earnings per share. Analysts predict that Phillips 66 will post 7.56 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date was Monday, November 18th. Phillips 66’s payout ratio is currently 59.05%.

Wall Street Analyst Weigh In

Several research firms recently commented on PSX. UBS Group cut their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Barclays decreased their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. Mizuho dropped their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. decreased their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Finally, TD Cowen decreased their price objective 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. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.23.

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.