Cadent Capital Advisors LLC Acquires 415 Shares of Phillips 66 (NYSE:PSX)

Cadent Capital Advisors LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 17.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,861 shares of the oil and gas company’s stock after buying an additional 415 shares during the quarter. Cadent Capital Advisors LLC’s holdings in Phillips 66 were worth $376,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Crewe Advisors LLC bought a new position in shares of Phillips 66 in the first quarter worth about $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 in the 1st quarter valued at approximately $26,000. Strategic Financial Concepts LLC bought a new position in Phillips 66 in the 2nd quarter valued at approximately $26,000. nVerses Capital LLC acquired a new stake in Phillips 66 in the third quarter valued at approximately $26,000. Finally, Redmont Wealth Advisors LLC bought a new stake in shares of Phillips 66 during the first quarter worth $28,000. 76.93% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $132.60 on Friday. The company has a market capitalization of $56.22 billion, a PE ratio of 10.20, a P/E/G ratio of 5.75 and a beta of 1.33. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08. The firm has a fifty day simple moving average of $133.18 and a 200 day simple moving average of $140.43.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same period last year, the company posted $3.87 EPS. The business’s quarterly revenue was up 8.9% on a year-over-year basis. On average, sell-side analysts forecast that Phillips 66 will post 7.85 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.47%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PSX shares. Bank of America initiated coverage on Phillips 66 in a report on Thursday. They set a “buy” rating and a $156.00 price objective on the stock. TD Cowen cut their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Raymond James lifted their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research report on Thursday. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $149.50.

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.