Phillips 66 (NYSE:PSX) Shares Acquired by Assetmark Inc.

Assetmark Inc. increased its holdings in Phillips 66 (NYSE:PSX) by 20.9% during the third quarter, HoldingsChannel.com reports. The fund owned 2,692 shares of the oil and gas company’s stock after buying an additional 466 shares during the period. Assetmark Inc.’s holdings in Phillips 66 were worth $354,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of PSX. Boston Partners raised its holdings in shares of Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after buying an additional 1,595,722 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Phillips 66 by 96.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after purchasing an additional 1,408,954 shares during the last quarter. Bank of New York Mellon Corp increased 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 purchasing an additional 402,925 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in shares of Phillips 66 by 1,087.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 432,003 shares of the oil and gas company’s stock worth $70,563,000 after purchasing an additional 395,617 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in shares of Phillips 66 by 574.0% during the second quarter. Canada Pension Plan Investment Board now owns 443,044 shares of the oil and gas company’s stock worth $62,545,000 after purchasing an additional 377,314 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Barclays cut their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. 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 report on Thursday, October 10th. Raymond James boosted their target price on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Piper Sandler set a $144.00 price target on Phillips 66 in a research note on Thursday, October 17th. Finally, TD Cowen cut their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $149.69.

Phillips 66 Stock Performance

Shares of PSX opened at $130.91 on Friday. Phillips 66 has a 12-month low of $111.90 and a 12-month high of $174.08. The stock has a market cap of $54.06 billion, a P/E ratio of 16.80, a PEG ratio of 4.26 and a beta of 1.33. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $129.75 and a two-hundred day moving average of $135.81.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same quarter last year, the company earned $4.63 earnings per share. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, research analysts predict that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.51%. Phillips 66’s dividend payout ratio (DPR) 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.