Nwam LLC Makes New Investment in Phillips 66 (NYSE:PSX)

Nwam LLC bought a new stake in shares of Phillips 66 (NYSE:PSX) during the third quarter, Holdings Channel reports. The fund bought 3,791 shares of the oil and gas company’s stock, valued at approximately $498,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp raised its stake in Phillips 66 by 263.3% in the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after purchasing an additional 60,355 shares during the last quarter. Manning & Napier Advisors LLC purchased a new position in Phillips 66 during the 2nd quarter valued at about $17,670,000. M&G Plc purchased a new position in Phillips 66 during the 2nd quarter valued at about $3,596,000. Mizuho Securities USA LLC boosted its holdings in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in Phillips 66 by 318.9% during the 1st quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company’s stock valued at $23,284,000 after acquiring an additional 108,515 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of several recent research reports. Bank of America initiated coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Mizuho cut their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. cut their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Piper Sandler set a $144.00 price target on Phillips 66 in a research note on Thursday, October 17th. Finally, Wells Fargo & Company cut their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $149.69.

Phillips 66 Stock Up 1.4 %

Phillips 66 stock opened at $133.27 on Monday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm has a market capitalization of $55.04 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 4.34 and a beta of 1.33. Phillips 66 has a fifty-two week low of $117.32 and a fifty-two week high of $174.08. The stock’s fifty day moving average is $130.28 and its two-hundred day moving average is $135.27.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion for 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%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter last year, the company earned $4.63 earnings per share. Analysts predict that Phillips 66 will post 7.57 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.45%. Phillips 66’s dividend payout ratio (DPR) 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.