Mount Yale Investment Advisors LLC Has $625,000 Position in Phillips 66 (NYSE:PSX)

Mount Yale Investment Advisors LLC lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 27.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,751 shares of the oil and gas company’s stock after selling 1,833 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Phillips 66 were worth $625,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of PSX. Manning & Napier Advisors LLC bought a new position in Phillips 66 in the second quarter valued at approximately $17,670,000. M&G Plc bought a new stake in Phillips 66 in the 2nd quarter valued at $3,596,000. Duality Advisers LP bought a new stake in Phillips 66 in the 1st quarter valued at $3,596,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Phillips 66 by 42.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock worth $21,844,000 after purchasing an additional 39,775 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in Phillips 66 by 69.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock worth $6,175,000 after purchasing an additional 15,542 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.22% of the stock is owned by company insiders.

Phillips 66 Price Performance

NYSE:PSX opened at $128.17 on Friday. Phillips 66 has a 12-month low of $107.85 and a 12-month high of $174.08. The firm has a market capitalization of $53.65 billion, a price-to-earnings ratio of 10.99, a P/E/G ratio of 5.61 and a beta of 1.33. The stock’s 50 day moving average price is $132.43 and its two-hundred day moving average price is $139.22. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter in the prior year, the business earned $3.87 EPS. The firm’s revenue for the quarter was up 8.9% on a year-over-year basis. On average, analysts anticipate that Phillips 66 will post 7.81 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.59%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is 39.45%.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of research reports. Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. JPMorgan Chase & Co. cut their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Wells Fargo & Company decreased their price target 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 shares of Phillips 66 in a research report on Thursday, October 17th. Finally, Barclays lowered their price target on shares of Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.50.

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.