Phillips 66 (NYSE:PSX) Shares Bought by Leavell Investment Management Inc.

Leavell Investment Management Inc. raised its stake in shares of Phillips 66 (NYSE:PSX) by 4.7% in the third quarter, Holdings Channel.com reports. The fund owned 60,440 shares of the oil and gas company’s stock after purchasing an additional 2,725 shares during the period. Leavell Investment Management Inc.’s holdings in Phillips 66 were worth $7,945,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PSX. Boston Partners lifted its stake in Phillips 66 by 41.4% during the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after purchasing an additional 1,595,722 shares in the last quarter. Vanguard Group Inc. lifted its stake in Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after acquiring an additional 1,578,669 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Phillips 66 by 96.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after acquiring an additional 1,408,954 shares during the period. Bank of New York Mellon Corp grew its position in Phillips 66 by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after acquiring an additional 402,925 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Phillips 66 by 1,087.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 432,003 shares of the oil and gas company’s stock worth $70,563,000 after purchasing an additional 395,617 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction dated 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 owns 81,937 shares in the company, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Stock Performance

NYSE PSX opened at $126.47 on Friday. The company has a fifty day moving average of $130.12 and a two-hundred day moving average of $136.72. 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 1 year low of $110.54 and a 1 year high of $174.08. The company has a market capitalization of $52.23 billion, a PE ratio of 16.23, a P/E/G ratio of 4.17 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the business posted $4.63 EPS. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. As a group, analysts expect that Phillips 66 will post 7.68 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PSX. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a report on Thursday, October 17th. Barclays cut their price objective on Phillips 66 from $138.00 to $133.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 8th. TD Cowen lowered their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target on the stock. Finally, UBS Group lowered their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $150.38.

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.