Glass Wealth Management Co LLC Acquires 1,295 Shares of Phillips 66 (NYSE:PSX)

Glass Wealth Management Co LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 4.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,739 shares of the oil and gas company’s stock after buying an additional 1,295 shares during the quarter. Phillips 66 makes up about 2.2% of Glass Wealth Management Co LLC’s investment portfolio, making the stock its 14th largest holding. Glass Wealth Management Co LLC’s holdings in Phillips 66 were worth $4,041,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Resurgent Financial Advisors LLC increased its stake in shares of Phillips 66 by 84.1% in the 1st quarter. Resurgent Financial Advisors LLC now owns 1,891 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 864 shares in the last quarter. Trustmark National Bank Trust Department grew its holdings in Phillips 66 by 29.9% during the first quarter. Trustmark National Bank Trust Department now owns 8,960 shares of the oil and gas company’s stock valued at $1,464,000 after purchasing an additional 2,060 shares during the period. Rockport Wealth LLC purchased a new stake in Phillips 66 in the first quarter worth about $221,000. O Shaughnessy Asset Management LLC raised its stake in shares of Phillips 66 by 46.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 71,072 shares of the oil and gas company’s stock worth $11,609,000 after buying an additional 22,478 shares during the period. Finally, UniSuper Management Pty Ltd lifted its position in shares of Phillips 66 by 208.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 12,104 shares of the oil and gas company’s stock valued at $1,977,000 after buying an additional 8,174 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

NYSE:PSX opened at $130.91 on Monday. The business’s 50-day moving average is $129.75 and its 200 day moving average is $135.73. Phillips 66 has a 12 month low of $111.90 and a 12 month high of $174.08. The company 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 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 (NYSE:PSX) last released its quarterly earnings data 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. The business had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.63 EPS. On average, equities research analysts forecast that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Morgan Stanley reduced 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 report on Monday, September 16th. Scotiabank reduced their price objective on shares of 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. TD Cowen lowered their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Mizuho cut their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Finally, Piper Sandler set a $144.00 price target on Phillips 66 in a report on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

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.