F M Investments LLC Decreases Stock Holdings in Phillips 66 (NYSE:PSX)

F M Investments LLC lessened its holdings in Phillips 66 (NYSE:PSX) by 9.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,142 shares of the oil and gas company’s stock after selling 1,479 shares during the quarter. F M Investments LLC’s holdings in Phillips 66 were worth $1,886,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Manning & Napier Advisors LLC bought a new position in Phillips 66 during the second quarter valued at about $17,670,000. M&G Plc purchased a new stake in shares of Phillips 66 during the 2nd quarter worth approximately $3,596,000. Duality Advisers LP purchased a new position in Phillips 66 in the first quarter valued at approximately $3,596,000. Mirae Asset Global Investments Co. Ltd. increased its position in Phillips 66 by 42.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock worth $21,844,000 after buying an additional 39,775 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Phillips 66 by 69.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock valued at $6,175,000 after buying an additional 15,542 shares during the period. Institutional investors own 76.93% of the company’s stock.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred 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 directly owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of several recent research reports. Mizuho decreased their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Bank of America assumed coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Wells Fargo & Company cut their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Morgan Stanley lowered 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 report on Monday, September 16th. Finally, Scotiabank cut their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $151.42.

Phillips 66 Stock Down 1.5 %

PSX stock opened at $120.01 on Friday. Phillips 66 has a 1-year low of $110.54 and a 1-year high of $174.08. The stock has a market cap of $49.56 billion, a price-to-earnings ratio of 15.41, a price-to-earnings-growth ratio of 3.92 and a beta of 1.33. The company has a current ratio of 1.21, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $131.27 and its 200 day moving average is $137.67.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results 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. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the prior year, the firm earned $4.63 EPS. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. Sell-side analysts predict that Phillips 66 will post 7.77 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is currently 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.