Custom Index Systems LLC Increases Stock Holdings in Phillips 66 (NYSE:PSX)

Custom Index Systems LLC increased its holdings in Phillips 66 (NYSE:PSX) by 107.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,744 shares of the oil and gas company’s stock after purchasing an additional 1,937 shares during the quarter. Custom Index Systems LLC’s holdings in Phillips 66 were worth $492,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Boston Partners lifted its holdings in shares of Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $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% in the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after buying an additional 1,578,669 shares in the last quarter. Price T Rowe Associates Inc. MD grew 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 buying an additional 1,408,954 shares during the last quarter. Bank of New York Mellon Corp increased its position in Phillips 66 by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after buying an additional 402,925 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Phillips 66 by 1,087.3% in 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 acquiring an additional 395,617 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Piper Sandler set a $144.00 price objective on Phillips 66 in a research report on Thursday, October 17th. Bank of America assumed coverage on shares of Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target for the company. Wolfe Research assumed coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating 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 for the company in a research note on Monday, September 16th. Finally, Scotiabank cut 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. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $149.50.

Insider Activity at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 0.2 %

NYSE:PSX traded down $0.32 on Friday, hitting $128.17. 1,346,869 shares of the stock were exchanged, compared to its average volume of 2,668,771. The stock has a market cap of $54.34 billion, a PE ratio of 9.86, a PEG ratio of 5.61 and a beta of 1.33. Phillips 66 has a fifty-two week low of $107.85 and a fifty-two week high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average of $132.43 and a 200-day moving average of $139.03.

Phillips 66 (NYSE:PSX) last posted its earnings results 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 during 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%. The company’s revenue was up 8.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.87 EPS. As a group, equities analysts expect that Phillips 66 will post 7.81 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio is presently 35.38%.

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.