Phillips 66 (NYSE:PSX) Shares Bought by Motco

Motco raised its stake in Phillips 66 (NYSE:PSX) by 7,124.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,826 shares of the oil and gas company’s stock after buying an additional 84,638 shares during the quarter. Motco’s holdings in Phillips 66 were worth $4,449,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its stake in Phillips 66 by 3.5% during the third quarter. BlackRock Inc. now owns 30,418,422 shares of the oil and gas company’s stock worth $1,576,891,000 after purchasing 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 during the period. 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 during the period. 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 during the period. 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 during the period. 65.91% of the stock is currently owned by institutional investors.

Phillips 66 stock opened at $61.59 on Friday. Phillips 66 has a one year low of $40.04 and a one year high of $118.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.73 and a current ratio of 1.25. The business has a fifty day moving average of $51.86 and a two-hundred day moving average of $63.21. The company has a market cap of $26.90 billion, a P/E ratio of -22.23, a price-to-earnings-growth ratio of 34.44 and a beta of 1.53.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, November 4th. The oil and gas company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.80) by $0.79. Phillips 66 had a positive return on equity of 8.76% and a negative net margin of 1.32%. During the same period in the prior year, the company earned $3.11 earnings per share. Sell-side analysts predict that Phillips 66 will post -0.18 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 5.85%. The ex-dividend date of this dividend is Monday, November 16th. Phillips 66’s dividend payout ratio (DPR) is currently 44.72%.

Several equities research analysts have recently weighed in on PSX shares. Wolfe Research raised Phillips 66 from a “market perform” rating to an “outperform” rating and set a $63.00 price objective for the company in a report on Thursday, November 5th. Piper Sandler decreased their price objective on Phillips 66 from $84.00 to $76.00 and set an “overweight” rating for the company in a report on Friday, November 13th. Mizuho decreased their price objective on Phillips 66 from $92.00 to $70.00 and set a “buy” rating for the company in a report on Thursday, October 22nd. Raymond James increased their price objective on Phillips 66 from $60.00 to $75.00 and gave the company an “outperform” rating in a report on Friday. Finally, Bank of America reaffirmed a “buy” rating and set a $100.00 price target on shares of Phillips 66 in a report on Monday, August 3rd. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Phillips 66 presently has an average rating of “Buy” and a consensus target price of $70.18.

Phillips 66 Company 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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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