Transamerica Financial Advisors Inc. Acquires 525 Shares of Phillips 66 (NYSE:PSX)

Transamerica Financial Advisors Inc. lifted its holdings in Phillips 66 (NYSE:PSX) by 45.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,674 shares of the oil and gas company’s stock after purchasing an additional 525 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Phillips 66 were worth $220,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PSX. Mizuho Securities USA LLC increased its stake in shares of Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares during the period. Boston Partners grew its position in Phillips 66 by 41.4% during the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares in the last quarter. ING Groep NV grew its position in Phillips 66 by 123.2% during the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after buying an additional 653,032 shares in the last quarter. Bank of Montreal Can grew its position in Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after buying an additional 633,970 shares in the last quarter. Finally, Mizuho Markets Americas LLC acquired a new stake in Phillips 66 during the third quarter worth about $70,983,000. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on PSX. Scotiabank decreased their target price 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. Wells Fargo & Company decreased their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. UBS Group decreased their target price 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. JPMorgan Chase & Co. decreased their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Finally, Piper Sandler set a $144.00 price objective on Phillips 66 in a report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Price Performance

Shares of PSX stock opened at $134.25 on Wednesday. Phillips 66 has a 52-week low of $117.32 and a 52-week high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a market cap of $55.44 billion, a PE ratio of 17.23, a PEG ratio of 4.40 and a beta of 1.33. The firm’s 50 day moving average price is $130.52 and its two-hundred day moving average price is $135.09.

Phillips 66 (NYSE:PSX) last issued its earnings results 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. The firm 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%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.63 earnings per share. As a group, analysts forecast that Phillips 66 will post 7.57 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently announced 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 is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.43%. Phillips 66’s dividend payout ratio is presently 59.05%.

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.