MTM Investment Management LLC Sells 200 Shares of Phillips 66 (NYSE:PSX)

MTM Investment Management LLC reduced its position in Phillips 66 (NYSE:PSX) by 5.6% in the third quarter, HoldingsChannel.com reports. The firm owned 3,349 shares of the oil and gas company’s stock after selling 200 shares during the period. MTM Investment Management LLC’s holdings in Phillips 66 were worth $464,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. raised its holdings in Phillips 66 by 22.5% during the first quarter. Bessemer Group Inc. now owns 54,212 shares of the oil and gas company’s stock valued at $8,856,000 after acquiring an additional 9,954 shares during the period. Lake Street Advisors Group LLC raised its stake in Phillips 66 by 36.5% during the 1st quarter. Lake Street Advisors Group LLC now owns 3,228 shares of the oil and gas company’s stock valued at $527,000 after purchasing an additional 863 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in Phillips 66 by 0.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 239,211 shares of the oil and gas company’s stock worth $39,114,000 after purchasing an additional 1,376 shares in the last quarter. Crewe Advisors LLC bought a new position in Phillips 66 in the 1st quarter worth approximately $25,000. Finally, CreativeOne Wealth LLC grew its holdings in Phillips 66 by 51.5% during the 1st quarter. CreativeOne Wealth LLC now owns 3,209 shares of the oil and gas company’s stock valued at $524,000 after buying an additional 1,091 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PSX shares. TD Cowen lowered their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Mizuho dropped their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Scotiabank reduced their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. JPMorgan Chase & Co. decreased their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Finally, UBS Group cut their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Stock Performance

NYSE PSX opened at $130.93 on Wednesday. The company has a market cap of $54.07 billion, a P/E ratio of 16.81, a P/E/G ratio of 4.29 and a beta of 1.33. The business’s 50 day moving average price is $129.90 and its 200-day moving average price is $135.55. Phillips 66 has a fifty-two week low of $114.94 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

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 for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.63 earnings per share. Sell-side analysts predict that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed 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 3.51%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is currently 59.05%.

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.