Harvest Portfolios Group Inc. Has $1.60 Million Stake in Phillips 66 (NYSE:PSX)

Harvest Portfolios Group Inc. grew its stake in Phillips 66 (NYSE:PSX) by 20.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 12,147 shares of the oil and gas company’s stock after buying an additional 2,063 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in Phillips 66 were worth $1,597,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PSX. Norden Group LLC lifted its stake in shares of Phillips 66 by 73.2% in the first quarter. Norden Group LLC now owns 3,743 shares of the oil and gas company’s stock worth $611,000 after buying an additional 1,582 shares during the last quarter. Jennison Associates LLC grew its position in shares of Phillips 66 by 37.6% in the first quarter. Jennison Associates LLC now owns 7,736 shares of the oil and gas company’s stock valued at $1,264,000 after purchasing an additional 2,115 shares during the last quarter. Rehmann Capital Advisory Group bought a new position in shares of Phillips 66 in the first quarter worth about $243,000. Larson Financial Group LLC lifted its position in shares of Phillips 66 by 33.3% during the 1st quarter. Larson Financial Group LLC now owns 1,270 shares of the oil and gas company’s stock worth $207,000 after purchasing an additional 317 shares during the last quarter. Finally, SPC Financial Inc. boosted its stake in Phillips 66 by 5.4% during the 1st quarter. SPC Financial Inc. now owns 1,942 shares of the oil and gas company’s stock valued at $317,000 after purchasing an additional 100 shares during the period. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

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 transaction, the chief financial officer now owns 81,937 shares in the company, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Performance

Phillips 66 stock opened at $127.91 on Thursday. The firm has a market capitalization of $52.83 billion, a P/E ratio of 16.42, a P/E/G ratio of 3.94 and a beta of 1.33. The stock has a fifty day moving average price of $130.59 and a two-hundred day moving average price of $137.00. Phillips 66 has a 52-week low of $110.54 and a 52-week high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last announced its earnings results 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 during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter last year, the company posted $4.63 EPS. As a group, analysts anticipate that Phillips 66 will post 7.69 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm 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. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.60%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Analyst Ratings Changes

PSX has been the subject of a number of research analyst reports. Piper Sandler set a $144.00 price target on Phillips 66 in a report on Thursday, October 17th. JPMorgan Chase & Co. cut their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Bank of America started coverage on shares of Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective on the stock. Mizuho reduced their target price on shares of 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, Scotiabank lowered their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. 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 stock currently has an average rating of “Moderate Buy” and a consensus target price of $150.38.

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.