MQS Management LLC Has $391,000 Stock Holdings in Phillips 66 (NYSE:PSX)

MQS Management LLC grew its stake in Phillips 66 (NYSE:PSX) by 25.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,975 shares of the oil and gas company’s stock after acquiring an additional 612 shares during the period. MQS Management LLC’s holdings in Phillips 66 were worth $391,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Crewe Advisors LLC acquired a new position in shares of Phillips 66 during the 1st quarter worth approximately $25,000. Strategic Financial Concepts LLC acquired a new position in Phillips 66 during the second quarter worth $26,000. nVerses Capital LLC bought a new stake in Phillips 66 during the third quarter worth $26,000. Values First Advisors Inc. acquired a new stake in Phillips 66 in the third quarter valued at $30,000. Finally, Bank & Trust Co bought a new position in shares of Phillips 66 in the 2nd quarter valued at about $31,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PSX. Mizuho cut their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. TD Cowen decreased their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Bank of America started coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research report on Thursday, October 17th. Finally, Wolfe Research assumed coverage on shares of Phillips 66 in a report on Thursday, July 18th. They set a “peer perform” rating for the company. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $149.69.

Phillips 66 Stock Up 1.7 %

PSX stock opened at $129.92 on Thursday. Phillips 66 has a 52 week low of $111.90 and a 52 week high of $174.08. The business has a 50-day simple moving average of $129.73 and a 200 day simple moving average of $136.04. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market cap of $53.66 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 4.18 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.63 EPS. Sell-side analysts anticipate that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. Phillips 66’s payout ratio is 59.05%.

Phillips 66 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.