Phillips 66 (NYSE:PSX) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. lowered its holdings in Phillips 66 (NYSE:PSX) by 17.8% during the third quarter, HoldingsChannel.com reports. The fund owned 61,943 shares of the oil and gas company’s stock after selling 13,393 shares during the period. D.A. Davidson & CO.’s holdings in Phillips 66 were worth $8,143,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Lazard Asset Management LLC grew its position in shares of Phillips 66 by 12.7% during the first quarter. Lazard Asset Management LLC now owns 3,998 shares of the oil and gas company’s stock worth $652,000 after acquiring an additional 451 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its stake in Phillips 66 by 1.6% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 20,955 shares of the oil and gas company’s stock valued at $3,423,000 after purchasing an additional 325 shares during the period. Beacon Capital Management LLC grew its position in Phillips 66 by 75.5% in the 1st quarter. Beacon Capital Management LLC now owns 509 shares of the oil and gas company’s stock worth $83,000 after purchasing an additional 219 shares during the last quarter. Plato Investment Management Ltd increased its stake in shares of Phillips 66 by 893.3% in the first quarter. Plato Investment Management Ltd now owns 5,175 shares of the oil and gas company’s stock valued at $845,000 after purchasing an additional 4,654 shares during the period. Finally, Montchanin Asset Management LLC bought a new stake in shares of Phillips 66 during the first quarter valued at approximately $626,000. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PSX shares. TD Cowen decreased their price target 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. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a report on Thursday, October 17th. Scotiabank decreased their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Barclays cut their price objective on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Finally, Morgan Stanley decreased their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Trading Up 0.7 %

NYSE PSX opened at $134.25 on Wednesday. The company has a market capitalization of $55.44 billion, a PE ratio of 17.23, a P/E/G ratio of 4.40 and a beta of 1.33. The stock has a 50-day simple moving average of $130.52 and a 200 day simple moving average of $135.09. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12 month low of $117.32 and a 12 month high of $174.08.

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 for the quarter, beating the consensus estimate of $1.63 by $0.41. The company 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 business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.63 earnings per share. Research analysts forecast that Phillips 66 will post 7.57 EPS for the current year.

Phillips 66 Dividend Announcement

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 $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Monday, November 18th. Phillips 66’s payout ratio is presently 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.