XML Financial LLC Raises Stake in Phillips 66 (NYSE:PSX)

XML Financial LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 4.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 17,839 shares of the oil and gas company’s stock after buying an additional 747 shares during the quarter. XML Financial LLC’s holdings in Phillips 66 were worth $2,345,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Kerusso Capital Management LLC raised its holdings in shares of Phillips 66 by 6.4% during the third quarter. Kerusso Capital Management LLC now owns 30,936 shares of the oil and gas company’s stock worth $4,067,000 after purchasing an additional 1,858 shares during the last quarter. Tompkins Financial Corp raised its stake in shares of Phillips 66 by 11.3% during the 3rd quarter. Tompkins Financial Corp now owns 1,385 shares of the oil and gas company’s stock valued at $182,000 after buying an additional 141 shares during the last quarter. TCTC Holdings LLC raised its stake in shares of Phillips 66 by 1.0% during the 3rd quarter. TCTC Holdings LLC now owns 160,123 shares of the oil and gas company’s stock valued at $21,048,000 after buying an additional 1,655 shares during the last quarter. Bridges Investment Management Inc. lifted its holdings in shares of Phillips 66 by 9.4% in the 3rd quarter. Bridges Investment Management Inc. now owns 4,013 shares of the oil and gas company’s stock valued at $528,000 after buying an additional 345 shares during the period. Finally, Assetmark Inc. boosted its stake in shares of Phillips 66 by 20.9% in the third quarter. Assetmark Inc. now owns 2,692 shares of the oil and gas company’s stock worth $354,000 after buying an additional 466 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Down 0.2 %

NYSE PSX opened at $126.45 on Friday. The business has a fifty day moving average price of $130.12 and a 200 day moving average price of $136.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The company has a market cap of $52.22 billion, a P/E ratio of 16.23, a P/E/G ratio of 4.17 and a beta of 1.33. Phillips 66 has a one year low of $110.54 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during 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 company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the business earned $4.63 earnings per share. Research analysts anticipate that Phillips 66 will post 7.68 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced 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. This represents a $4.60 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

Insider Activity

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of a number of analyst reports. Scotiabank decreased their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. TD Cowen decreased their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Wells Fargo & Company dropped their price target on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. JPMorgan Chase & Co. cut their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, Piper Sandler set a $144.00 target price on Phillips 66 in a research report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $150.38.

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.