New Century Financial Group LLC Buys 139 Shares of Phillips 66 (NYSE:PSX)

New Century Financial Group LLC increased its stake in Phillips 66 (NYSE:PSX) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,660 shares of the oil and gas company’s stock after acquiring an additional 139 shares during the period. New Century Financial Group LLC’s holdings in Phillips 66 were worth $613,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Crewe Advisors LLC bought a new stake in Phillips 66 in the first quarter valued at approximately $25,000. Keener Financial Planning LLC bought a new stake in Phillips 66 during the 1st quarter valued at $26,000. Redmont Wealth Advisors LLC purchased a new stake in Phillips 66 during the 1st quarter valued at $28,000. Ruedi Wealth Management Inc. grew its holdings in Phillips 66 by 102.1% in the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 96 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of Phillips 66 in the third quarter valued at about $26,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 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 owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PSX. Raymond James raised their target price on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Morgan Stanley reduced their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. TD Cowen dropped 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. Scotiabank reduced their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Finally, Wells Fargo & Company dropped their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $149.50.

Phillips 66 Stock Down 0.6 %

PSX stock opened at $132.60 on Friday. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average of $133.18 and a 200 day moving average of $140.43. Phillips 66 has a twelve month low of $107.85 and a twelve month high of $174.08. The firm has a market cap of $56.22 billion, a PE ratio of 10.20, a price-to-earnings-growth ratio of 5.75 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.87 EPS. On average, research analysts forecast that Phillips 66 will post 7.85 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.47%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

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.