Wilmington Savings Fund Society FSB reduced its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 47.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,858 shares of the oil and gas company's stock after selling 31,119 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in Phillips 66 were worth $4,451,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in shares of Phillips 66 in the third quarter valued at about $26,000. Values First Advisors Inc. acquired a new stake in Phillips 66 during the 3rd quarter worth about $30,000. Kings Path Partners LLC acquired a new stake in Phillips 66 during the second quarter worth about $38,000. Industrial Alliance Investment Management Inc. purchased a new position in Phillips 66 during the second quarter valued at approximately $40,000. Finally, Point72 Hong Kong Ltd purchased a new position in shares of Phillips 66 during the 3rd quarter valued at approximately $40,000. Institutional investors own 76.93% of the company's stock.
Several analysts have commented on PSX shares. UBS Group dropped their price objective on Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a report on Monday, November 4th. Scotiabank dropped their price target on Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. JPMorgan Chase & Co. lowered their price target on shares of Phillips 66 from $160.00 to $141.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 2nd. TD Cowen cut their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, September 11th. Finally, Wells Fargo & Company lowered their target price on Phillips 66 from $167.00 to $161.00 and set an "overweight" rating on the stock in a report on Monday. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $149.23.
Check Out Our Latest Report on Phillips 66
Shares of PSX opened at $123.99 on Friday. Phillips 66 has a 52-week low of $119.77 and a 52-week high of $174.08. The company has a market capitalization of $51.21 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 4.14 and a beta of 1.35. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average price of $130.18 and a 200 day moving average price of $134.05.
Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping 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 company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same period last year, the firm posted $4.63 EPS. Phillips 66's revenue for the quarter was down 10.3% on a year-over-year basis. Research analysts predict that Phillips 66 will post 7.56 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.71%. The ex-dividend date was Monday, November 18th. Phillips 66's dividend payout ratio (DPR) is presently 59.05%.
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.
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