Buckley Wealth Management LLC decreased its position in Phillips 66 (NYSE:PSX) by 10.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,553 shares of the oil and gas company’s stock after selling 1,277 shares during the quarter. Buckley Wealth Management LLC’s holdings in Phillips 66 were worth $1,081,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Advisors Preferred LLC acquired a new position in shares of Phillips 66 during the 2nd quarter valued at about $25,000. TRUE Private Wealth Advisors acquired a new position in shares of Phillips 66 during the 2nd quarter valued at about $26,000. Manchester Financial Inc. acquired a new position in shares of Phillips 66 during the 2nd quarter valued at about $32,000. Coastal Capital Group Inc. acquired a new position in shares of Phillips 66 during the 2nd quarter valued at about $37,000. Finally, Sound Income Strategies LLC increased its stake in shares of Phillips 66 by 74.8% during the 3rd quarter. Sound Income Strategies LLC now owns 395 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 169 shares during the last quarter. 68.71% of the stock is owned by hedge funds and other institutional investors.
PSX has been the subject of a number of research analyst reports. Cowen upped their price objective on shares of Phillips 66 from $112.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Evercore ISI initiated coverage on shares of Phillips 66 in a research note on Wednesday, October 2nd. They set an “outperform” rating for the company. Scotiabank initiated coverage on shares of Phillips 66 in a research note on Tuesday, September 3rd. They set an “outperform” rating for the company. Macquarie initiated coverage on shares of Phillips 66 in a research note on Thursday, September 5th. They set an “outperform” rating for the company. Finally, Raymond James upped their price objective on shares of Phillips 66 from $117.00 to $120.00 and gave the company an “outperform” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Phillips 66 has a consensus rating of “Buy” and an average price target of $113.80.
In other news, EVP Robert A. Herman sold 47,433 shares of the business’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $103.17, for a total transaction of $4,893,662.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.13% of the stock is currently owned by insiders.
Shares of NYSE:PSX traded down $0.16 during trading on Friday, reaching $106.44. 145,703 shares of the stock were exchanged, compared to its average volume of 2,619,805. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.82 and a current ratio of 1.28. Phillips 66 has a 12-month low of $78.44 and a 12-month high of $112.60. The firm has a market cap of $45.22 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 2.07 and a beta of 1.07. The firm’s 50-day moving average price is $100.93 and its 200 day moving average price is $95.32.
Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.70 by $0.32. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. The business had revenue of $28.52 billion during the quarter, compared to analysts’ expectations of $29.89 billion. During the same quarter in the previous year, the business earned $2.80 EPS. As a group, equities research analysts forecast that Phillips 66 will post 7.63 EPS for the current year.
The company 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 $0.90 per share. This represents a $3.60 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Friday, November 15th. Phillips 66’s payout ratio is currently 30.74%.
Phillips 66 Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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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