Ingalls & Snyder LLC Sells 1,038 Shares of Phillips 66 (NYSE:PSX)

Ingalls & Snyder LLC decreased its position in Phillips 66 (NYSE:PSX) by 10.2% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 9,127 shares of the oil and gas company’s stock after selling 1,038 shares during the quarter. Ingalls & Snyder LLC’s holdings in Phillips 66 were worth $1,200,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. DNB Asset Management AS purchased a new position in shares of Phillips 66 in the 2nd quarter worth approximately $249,000. CWM LLC grew its stake in Phillips 66 by 0.9% in the 2nd quarter. CWM LLC now owns 23,268 shares of the oil and gas company’s stock valued at $3,285,000 after purchasing an additional 203 shares during the period. Contravisory Investment Management Inc. increased its position in shares of Phillips 66 by 14.5% during the 2nd quarter. Contravisory Investment Management Inc. now owns 1,906 shares of the oil and gas company’s stock valued at $269,000 after purchasing an additional 242 shares during the last quarter. Simplicity Wealth LLC raised its stake in shares of Phillips 66 by 3.5% during the 2nd quarter. Simplicity Wealth LLC now owns 8,924 shares of the oil and gas company’s stock worth $1,260,000 after purchasing an additional 301 shares during the period. Finally, Fortitude Family Office LLC boosted its holdings in shares of Phillips 66 by 52.3% in the 2nd quarter. Fortitude Family Office LLC now owns 265 shares of the oil and gas company’s stock worth $37,000 after buying an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 1.5 %

Shares of NYSE:PSX opened at $134.44 on Wednesday. The firm has a fifty day moving average price of $130.88 and a two-hundred day moving average price of $134.68. The company has a market cap of $55.52 billion, a price-to-earnings ratio of 17.26, a PEG ratio of 4.45 and a beta of 1.35. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a one year low of $119.77 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (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 analyst estimates of $36.31 billion. During the same quarter last year, the company earned $4.63 earnings per share. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. Analysts anticipate that Phillips 66 will post 7.66 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.42%. The ex-dividend date was Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Analyst Upgrades and Downgrades

PSX has been the topic of several research reports. JPMorgan Chase & Co. lowered their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Scotiabank dropped their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. TD Cowen decreased their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Piper Sandler set a $144.00 price target on Phillips 66 in a research report on Thursday, October 17th. Finally, Wells Fargo & Company decreased their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. Five investment 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, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.69.

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.