Phillips 66 (NYSE:PSX) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. lowered its stake in Phillips 66 (NYSE:PSX) by 17.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 61,943 shares of the oil and gas company’s stock after selling 13,393 shares during the period. D.A. Davidson & CO.’s holdings in Phillips 66 were worth $8,143,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PSX. West Tower Group LLC acquired a new stake in shares of Phillips 66 during the third quarter worth $289,000. Qsemble Capital Management LP purchased a new position in Phillips 66 during the 3rd quarter worth $2,444,000. Bank of Montreal Can lifted its stake in shares of Phillips 66 by 63.4% in the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after acquiring an additional 633,970 shares during the period. Estate Counselors LLC boosted its holdings in shares of Phillips 66 by 7.2% in the third quarter. Estate Counselors LLC now owns 13,525 shares of the oil and gas company’s stock valued at $1,778,000 after acquiring an additional 910 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Phillips 66 by 13.1% during the third quarter. Daiwa Securities Group Inc. now owns 62,260 shares of the oil and gas company’s stock worth $8,184,000 after purchasing an additional 7,235 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Barclays dropped their target price on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Bank of America assumed coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research report on Thursday, October 17th. Finally, Raymond James increased their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Stock Performance

NYSE:PSX opened at $134.25 on Wednesday. The firm has a 50 day simple moving average of $130.52 and a 200-day simple moving average of $135.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm has a market cap of $55.44 billion, a PE ratio of 17.23, a P/E/G ratio of 4.40 and a beta of 1.33. Phillips 66 has a 1-year low of $117.32 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the firm earned $4.63 earnings per share. On average, equities analysts expect that Phillips 66 will post 7.57 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.43%. Phillips 66’s dividend payout ratio is presently 59.05%.

Phillips 66 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.