Olympiad Research LP Purchases Shares of 4,615 Phillips 66 (NYSE:PSX)

Olympiad Research LP purchased a new stake in shares of Phillips 66 (NYSE:PSX) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 4,615 shares of the oil and gas company’s stock, valued at approximately $607,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Crewe Advisors LLC bought a new position in Phillips 66 during the first quarter valued at approximately $25,000. Strategic Financial Concepts LLC bought a new position in shares of Phillips 66 in the second quarter worth approximately $26,000. nVerses Capital LLC bought a new position in shares of Phillips 66 in the third quarter worth approximately $26,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 in the third quarter worth approximately $30,000. Finally, Bank & Trust Co bought a new position in shares of Phillips 66 in the second quarter worth approximately $31,000. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PSX shares. Mizuho dropped their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. JPMorgan Chase & Co. dropped their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Raymond James raised their price target on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Wolfe Research started coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Piper Sandler set a $144.00 price target on Phillips 66 in a research note on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $150.38.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Up 5.0 %

PSX stock opened at $127.91 on Thursday. Phillips 66 has a twelve month low of $110.54 and a twelve 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 stock has a market cap of $52.83 billion, a P/E ratio of 16.42, a PEG ratio of 3.94 and a beta of 1.33. The business’s 50-day moving average price is $130.59 and its 200-day moving average price is $137.00.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the previous year, the firm earned $4.63 EPS. The business’s quarterly revenue was down 10.3% on a year-over-year basis. On average, equities research analysts forecast that Phillips 66 will post 7.69 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.60%. Phillips 66’s dividend payout ratio is presently 59.05%.

Phillips 66 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.