Phillips 66 (NYSE:PSX) Shares Sold by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. lowered its stake in shares of Phillips 66 (NYSE:PSX) by 7.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,702 shares of the oil and gas company’s stock after selling 212 shares during the period. Brown Brothers Harriman & Co.’s holdings in Phillips 66 were worth $355,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. nVerses Capital LLC acquired a new position in Phillips 66 in the third quarter valued at approximately $26,000. Bank & Trust Co acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $31,000. Values First Advisors Inc. purchased a new position in shares of Phillips 66 during the 3rd quarter worth $30,000. Opal Wealth Advisors LLC acquired a new stake in shares of Phillips 66 during the 2nd quarter worth about $34,000. Finally, Fortitude Family Office LLC raised its holdings in Phillips 66 by 52.3% in the 2nd quarter. Fortitude Family Office LLC now owns 265 shares of the oil and gas company’s stock valued at $37,000 after buying an additional 91 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research analyst reports. Barclays lowered 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. Raymond James lifted their price objective on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. TD Cowen dropped their target price 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. Finally, Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research report on Thursday, October 17th. Five equities research 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 stock presently has an average rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Trading Down 0.7 %

NYSE:PSX opened at $133.31 on Thursday. Phillips 66 has a 12-month low of $117.74 and a 12-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’s 50 day simple moving average is $130.58 and its 200-day simple moving average is $135.07. The firm has a market cap of $55.06 billion, a P/E ratio of 17.11, a PEG ratio of 4.40 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS 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 the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.63 EPS. Equities analysts anticipate that Phillips 66 will post 7.57 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid 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 dividend yield of 3.45%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Phillips 66 Company 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.