Allen Capital Group LLC Lowers Stock Holdings in Phillips 66 (NYSE:PSX)

Allen Capital Group LLC lowered its stake in Phillips 66 (NYSE:PSX) by 4.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,371 shares of the oil and gas company’s stock after selling 229 shares during the period. Allen Capital Group LLC’s holdings in Phillips 66 were worth $706,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of PSX. Mizuho Securities USA LLC increased its holdings in shares of Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after buying an additional 2,467,316 shares during the period. Boston Partners increased its holdings in shares of Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Phillips 66 by 96.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock worth $467,743,000 after buying an additional 1,408,954 shares during the period. ING Groep NV increased its holdings in shares of Phillips 66 by 123.2% in the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after buying an additional 653,032 shares during the period. Finally, Mizuho Markets Americas LLC purchased a new position in shares of Phillips 66 in the third quarter worth about $70,983,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 1.4 %

PSX stock opened at $133.28 on Friday. Phillips 66 has a fifty-two week low of $117.32 and a fifty-two week high of $174.08. The business’s 50 day moving average price is $130.28 and its two-hundred day moving average price is $135.42. 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 company 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 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.63 EPS. As a group, analysts forecast that Phillips 66 will post 7.57 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business 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 annualized dividend and a dividend yield of 3.45%. Phillips 66’s payout ratio is currently 59.05%.

Analyst Ratings Changes

Several research firms have recently commented on PSX. Scotiabank decreased their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Wells Fargo & Company reduced their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Piper Sandler set a $144.00 price target on Phillips 66 in a report on Thursday, October 17th. Barclays reduced their price target on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, Raymond James boosted their price target on 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.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.69.

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.