Empirical Finance LLC Purchases 261 Shares of Phillips 66 (NYSE:PSX)

Empirical Finance LLC increased its position in shares of Phillips 66 (NYSE:PSX) by 1.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 19,236 shares of the oil and gas company’s stock after buying an additional 261 shares during the quarter. Empirical Finance LLC’s holdings in Phillips 66 were worth $2,529,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Orion Portfolio Solutions LLC increased its stake in shares of Phillips 66 by 13.0% in the first quarter. Orion Portfolio Solutions LLC now owns 17,456 shares of the oil and gas company’s stock worth $2,851,000 after purchasing an additional 2,009 shares during the period. Banco Santander S.A. bought a new stake in shares of Phillips 66 in the first quarter valued at approximately $937,000. First Foundation Advisors grew its stake in shares of Phillips 66 by 8.4% in the first quarter. First Foundation Advisors now owns 4,786 shares of the oil and gas company’s stock worth $782,000 after acquiring an additional 372 shares during the last quarter. Cornerstone Advisors LLC increased its position in Phillips 66 by 12.9% during the first quarter. Cornerstone Advisors LLC now owns 9,600 shares of the oil and gas company’s stock worth $1,568,000 after acquiring an additional 1,100 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Phillips 66 by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after purchasing an additional 1,578,669 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

PSX opened at $130.91 on Friday. 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 company’s 50 day simple moving average is $129.75 and its 200-day simple moving average is $135.81. Phillips 66 has a one year low of $111.90 and a one year high of $174.08. The stock has a market capitalization of $54.06 billion, a P/E ratio of 16.80, a price-to-earnings-growth ratio of 4.26 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period last year, the firm earned $4.63 EPS. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. Sell-side analysts anticipate that Phillips 66 will post 7.63 earnings per share 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. Shareholders 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 dividend on an annualized basis and a yield of 3.51%. Phillips 66’s payout ratio is presently 59.05%.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of research analyst reports. Scotiabank cut their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Morgan Stanley decreased their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. JPMorgan Chase & Co. cut their price target on shares of 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 upped 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. Finally, UBS Group decreased their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Five 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 company presently has an average rating of “Moderate Buy” and a consensus target price 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.