FORA Capital LLC Takes $10.57 Million Position in Phillips 66 (NYSE:PSX)

FORA Capital LLC bought a new position in shares of Phillips 66 (NYSE:PSX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 80,419 shares of the oil and gas company’s stock, valued at approximately $10,571,000. Phillips 66 makes up approximately 1.2% of FORA Capital LLC’s investment portfolio, making the stock its 11th largest holding.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp lifted its holdings in shares of Phillips 66 by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after buying an additional 402,925 shares during the period. Boston Partners lifted its holdings in Phillips 66 by 41.4% in the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after acquiring an additional 1,595,722 shares during the last quarter. Legal & General Group Plc lifted its holdings in Phillips 66 by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after acquiring an additional 18,238 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Phillips 66 by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock worth $514,253,000 after purchasing an additional 111,261 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Phillips 66 by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after purchasing an additional 16,941 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PSX has been the subject of a number of research reports. Bank of America assumed coverage on shares of Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price for the company. 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 report on Wednesday, October 9th. Raymond James upped their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. TD Cowen dropped their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, Scotiabank reduced their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Stock Up 0.2 %

PSX traded up $0.23 on Wednesday, reaching $134.48. 305,087 shares of the company traded hands, compared to its average volume of 2,653,831. The company has a market cap of $55.54 billion, a price-to-earnings ratio of 17.23, a PEG ratio of 4.40 and a beta of 1.33. 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 stock’s 50 day moving average price is $130.52 and its 200-day moving average price is $135.09. Phillips 66 has a 52-week low of $117.74 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly 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. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business 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 company posted $4.63 EPS. Phillips 66’s revenue was down 10.3% on a year-over-year basis. On average, sell-side analysts expect that Phillips 66 will post 7.57 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.42%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is currently 59.05%.

Phillips 66 Company 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.