Payden & Rygel Has $526,000 Stock Holdings in Phillips 66 (NYSE:PSX)

Payden & Rygel reduced its position in shares of Phillips 66 (NYSE:PSX) by 96.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 4,000 shares of the oil and gas company’s stock after selling 109,100 shares during the quarter. Payden & Rygel’s holdings in Phillips 66 were worth $526,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new position in Phillips 66 in the 1st quarter valued at approximately $25,000. nVerses Capital LLC bought a new position in Phillips 66 during the 3rd quarter worth $26,000. Bank & Trust Co bought a new position in Phillips 66 during the 2nd quarter worth $31,000. Values First Advisors Inc. acquired a new position in Phillips 66 during the 3rd quarter worth about $30,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Phillips 66 in the 2nd quarter valued at about $34,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PSX shares. Piper Sandler set a $144.00 price objective on Phillips 66 in a research note on Thursday, October 17th. Wells Fargo & Company dropped their price target on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Scotiabank decreased 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 report on Thursday, October 10th. TD Cowen lowered their target price on shares of 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, JPMorgan Chase & Co. cut their price target 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. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $149.69.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $131.41 on Thursday. The business has a 50-day simple moving average of $130.03 and a 200 day simple moving average of $135.52. Phillips 66 has a one year low of $114.94 and a one year high of $174.08. 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 firm has a market capitalization of $54.27 billion, a price-to-earnings ratio of 16.87, a PEG ratio of 4.29 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data 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 return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the previous year, the company posted $4.63 earnings per share. The company’s quarterly revenue was down 10.3% on a year-over-year basis. On average, research analysts anticipate that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed 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 3.50%. Phillips 66’s payout ratio is 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.