Citizens Financial Group Inc. RI Has $775,000 Stock Position in Phillips 66 (NYSE:PSX)

Citizens Financial Group Inc. RI increased its position in shares of Phillips 66 (NYSE:PSX) by 59.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,898 shares of the oil and gas company’s stock after acquiring an additional 2,206 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Phillips 66 were worth $775,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Moors & Cabot Inc. grew its holdings in shares of Phillips 66 by 4.1% during the third quarter. Moors & Cabot Inc. now owns 12,012 shares of the oil and gas company’s stock valued at $1,579,000 after buying an additional 472 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new position in Phillips 66 during the 3rd quarter valued at about $489,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Phillips 66 by 113.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,703 shares of the oil and gas company’s stock valued at $750,000 after purchasing an additional 3,030 shares during the period. Commerce Bank lifted its position in shares of Phillips 66 by 1.6% in the third quarter. Commerce Bank now owns 55,553 shares of the oil and gas company’s stock worth $7,302,000 after purchasing an additional 874 shares in the last quarter. Finally, Strategy Asset Managers LLC boosted its holdings in shares of Phillips 66 by 65.1% during the third quarter. Strategy Asset Managers LLC now owns 6,459 shares of the oil and gas company’s stock worth $849,000 after purchasing an additional 2,547 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Wells Fargo & Company decreased their target price 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. Piper Sandler set a $144.00 price objective on Phillips 66 in a report on Thursday, October 17th. Mizuho lowered their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. TD Cowen cut their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Morgan Stanley lowered their price target on 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. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Trading Up 1.4 %

Shares of PSX stock opened at $133.28 on Friday. Phillips 66 has a 12 month low of $117.32 and a 12 month high of $174.08. The company has a market cap of $55.04 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 4.29 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 business’s 50 day moving average is $130.28 and its two-hundred day moving average is $135.42.

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 (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.63 EPS. Equities analysts predict that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.45%. Phillips 66’s 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.