Richard C. Young & CO. LTD. Boosts Stock Holdings in Phillips 66 (NYSE:PSX)

Richard C. Young & CO. LTD. raised its holdings in Phillips 66 (NYSE:PSX) by 0.9% during the third quarter, Holdings Channel.com reports. The firm owned 109,382 shares of the oil and gas company’s stock after purchasing an additional 944 shares during the quarter. Richard C. Young & CO. LTD.’s holdings in Phillips 66 were worth $14,378,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Crewe Advisors LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at approximately $25,000. Strategic Financial Concepts LLC purchased a new stake in shares of Phillips 66 during the 2nd quarter worth $26,000. nVerses Capital LLC acquired a new position in shares of Phillips 66 during the 3rd quarter worth $26,000. Values First Advisors Inc. purchased a new position in shares of Phillips 66 in the 3rd quarter valued at about $30,000. Finally, Bank & Trust Co acquired a new stake in shares of Phillips 66 in the second quarter valued at about $31,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley lowered their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. UBS Group dropped their price target 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. Mizuho lowered their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research report on Thursday, October 17th. Finally, Raymond James lifted their price objective on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Stock Performance

NYSE PSX opened at $130.91 on Monday. 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 $111.90 and a 1-year high of $174.08. The firm has a market capitalization of $54.06 billion, a P/E ratio of 16.80, a P/E/G ratio of 4.29 and a beta of 1.33. The business’s 50-day simple moving average is $129.75 and its 200-day simple moving average is $135.73.

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

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.51%. Phillips 66’s payout ratio is 59.05%.

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.