Algert Global LLC Takes $3.55 Million Position in Phillips 66 (NYSE:PSX)

Algert Global LLC acquired a new position in Phillips 66 (NYSE:PSX) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,983 shares of the oil and gas company’s stock, valued at approximately $3,547,000.

Other hedge funds have also recently bought and sold shares of the company. Kingsview Wealth Management LLC raised its position in shares of Phillips 66 by 0.5% in the third quarter. Kingsview Wealth Management LLC now owns 40,514 shares of the oil and gas company’s stock valued at $5,326,000 after purchasing an additional 215 shares during the period. Cerity Partners LLC raised its holdings in Phillips 66 by 8.7% in the 3rd quarter. Cerity Partners LLC now owns 65,830 shares of the oil and gas company’s stock worth $8,653,000 after acquiring an additional 5,255 shares during the period. Great Valley Advisor Group Inc. lifted its position in Phillips 66 by 1.8% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 15,499 shares of the oil and gas company’s stock worth $2,037,000 after acquiring an additional 267 shares during the last quarter. Meridian Wealth Management LLC bought a new stake in Phillips 66 during the third quarter valued at about $203,000. Finally, Nwam LLC acquired a new stake in shares of Phillips 66 in the third quarter valued at about $498,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PSX. Barclays decreased their target price on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Wells Fargo & Company lowered their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Raymond James upped their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Morgan Stanley decreased their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Finally, Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Stock Up 0.0 %

Shares of NYSE PSX opened at $133.33 on Tuesday. The business has a fifty day moving average of $130.40 and a two-hundred day moving average of $135.17. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 52-week low of $117.32 and a 52-week high of $174.08. The stock has a market cap of $55.06 billion, a PE ratio of 17.12, a PEG ratio of 4.40 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’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 earnings per share. As a group, equities research analysts expect that Phillips 66 will post 7.57 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 paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 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.