Quantbot Technologies LP Makes New $4.51 Million Investment in Phillips 66 (NYSE:PSX)

Quantbot Technologies LP acquired a new stake in shares of Phillips 66 (NYSE:PSX) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 34,319 shares of the oil and gas company’s stock, valued at approximately $4,511,000.

Other hedge funds have also recently modified their holdings of the company. nVerses Capital LLC purchased a new stake in Phillips 66 in the 3rd quarter worth $26,000. Bank & Trust Co bought a new position in Phillips 66 during the second quarter valued at approximately $31,000. Values First Advisors Inc. purchased a new position in Phillips 66 during the 3rd quarter valued at approximately $30,000. Opal Wealth Advisors LLC bought a new stake in Phillips 66 in the 2nd quarter worth approximately $34,000. Finally, Fortitude Family Office LLC boosted its position in shares of Phillips 66 by 52.3% during the 2nd quarter. Fortitude Family Office LLC now owns 265 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of recent research reports. Scotiabank decreased their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Wells Fargo & Company decreased their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Piper Sandler set a $144.00 price objective on Phillips 66 in a research note on Thursday, October 17th. Raymond James boosted their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, UBS Group lowered their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Price Performance

Shares of PSX stock opened at $134.25 on Wednesday. Phillips 66 has a twelve month low of $117.32 and a twelve month high of $174.08. 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 stock has a market capitalization of $55.44 billion, a price-to-earnings ratio of 17.23, a P/E/G ratio of 4.40 and a beta of 1.33. The stock has a fifty day simple moving average of $130.52 and a two-hundred day simple moving average of $135.09.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. Phillips 66’s revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.63 earnings per share. On average, analysts predict that Phillips 66 will post 7.57 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.43%. Phillips 66’s dividend payout ratio 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.