Victory Capital Management Inc. lessened its holdings in Phillips 66 (NYSE:PSX) by 7.3% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 926,750 shares of the oil and gas company’s stock after selling 72,951 shares during the period. Victory Capital Management Inc. owned approximately 0.21% of Phillips 66 worth $48,043,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. BlackRock Inc. boosted its position in Phillips 66 by 3.5% in the 3rd quarter. BlackRock Inc. now owns 30,418,422 shares of the oil and gas company’s stock valued at $1,576,891,000 after buying an additional 1,019,044 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Phillips 66 by 0.7% in the third quarter. Wells Fargo & Company MN now owns 11,672,564 shares of the oil and gas company’s stock valued at $605,105,000 after acquiring an additional 81,872 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Phillips 66 by 5.1% in the second quarter. Bank of America Corp DE now owns 6,060,292 shares of the oil and gas company’s stock valued at $435,734,000 after acquiring an additional 292,791 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Phillips 66 by 1.5% in the second quarter. Bank of New York Mellon Corp now owns 5,813,538 shares of the oil and gas company’s stock valued at $417,992,000 after acquiring an additional 87,735 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Phillips 66 by 2.9% in the second quarter. LSV Asset Management now owns 4,753,501 shares of the oil and gas company’s stock valued at $341,776,000 after acquiring an additional 133,081 shares in the last quarter. 65.91% of the stock is owned by institutional investors.
Shares of NYSE PSX opened at $61.59 on Friday. Phillips 66 has a 12-month low of $40.04 and a 12-month high of $118.92. The company has a market capitalization of $26.90 billion, a PE ratio of -22.23, a price-to-earnings-growth ratio of 34.44 and a beta of 1.53. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.25 and a quick ratio of 0.73. The firm’s 50-day moving average is $51.86 and its two-hundred day moving average is $63.21.
Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, November 4th. The oil and gas company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.79. Phillips 66 had a negative net margin of 1.32% and a positive return on equity of 8.76%. During the same period last year, the firm earned $3.11 earnings per share. On average, analysts forecast that Phillips 66 will post -0.18 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date is Monday, November 16th. Phillips 66’s dividend payout ratio is presently 44.72%.
PSX has been the topic of a number of research analyst reports. Wolfe Research raised shares of Phillips 66 from a “market perform” rating to an “outperform” rating and set a $63.00 price objective on the stock in a report on Thursday, November 5th. Cowen decreased their price objective on shares of Phillips 66 from $69.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, November 2nd. Bank of America reissued a “buy” rating and set a $100.00 price objective on shares of Phillips 66 in a report on Monday, August 3rd. Raymond James boosted their price objective on shares of Phillips 66 from $60.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Barclays decreased their price objective on shares of Phillips 66 from $73.00 to $64.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $70.18.
Phillips 66 Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.
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