Phillips 66 (NYSE:PSX) Holdings Reduced by Mattern Capital Management LLC

Mattern Capital Management LLC trimmed its holdings in Phillips 66 (NYSE:PSX) by 0.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 88,866 shares of the oil and gas company’s stock after selling 378 shares during the quarter. Phillips 66 makes up approximately 1.5% of Mattern Capital Management LLC’s holdings, making the stock its 10th biggest position. Mattern Capital Management LLC’s holdings in Phillips 66 were worth $11,681,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale boosted its position in shares of Phillips 66 by 1.6% during the third quarter. DekaBank Deutsche Girozentrale now owns 199,461 shares of the oil and gas company’s stock worth $26,076,000 after acquiring an additional 3,094 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Phillips 66 by 8.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 123,288 shares of the oil and gas company’s stock valued at $16,206,000 after purchasing an additional 9,414 shares during the last quarter. Arkadios Wealth Advisors grew its position in shares of Phillips 66 by 0.6% during the third quarter. Arkadios Wealth Advisors now owns 42,829 shares of the oil and gas company’s stock valued at $5,630,000 after purchasing an additional 246 shares in the last quarter. CWC Advisors LLC. bought a new stake in shares of Phillips 66 in the third quarter worth about $1,269,000. Finally, Strategic Investment Solutions Inc. IL lifted its position in shares of Phillips 66 by 75.4% in the third quarter. Strategic Investment Solutions Inc. IL now owns 612 shares of the oil and gas company’s stock worth $80,000 after buying an additional 263 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on PSX. Mizuho lowered their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research note on Thursday, October 17th. Scotiabank decreased their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, Wolfe Research began coverage on Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Five 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.50.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 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 completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $128.17 on Friday. The firm has a market cap of $54.34 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 5.61 and a beta of 1.33. Phillips 66 has a 52-week low of $107.85 and a 52-week high of $174.08. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average is $132.43 and its 200 day moving average is $139.03.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The firm had revenue of $38.91 billion for the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. During the same quarter in the previous year, the firm earned $3.87 EPS. The company’s quarterly revenue was up 8.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Phillips 66 will post 7.81 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business 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 dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.59%. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

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.