Mutual of America Capital Management LLC Has $6.77 Million Stock Position in Phillips 66 (NYSE:PSX)

Mutual of America Capital Management LLC lowered its position in shares of Phillips 66 (NYSE:PSX) by 3.6% in the third quarter, HoldingsChannel reports. The fund owned 51,536 shares of the oil and gas company’s stock after selling 1,929 shares during the period. Mutual of America Capital Management LLC’s holdings in Phillips 66 were worth $6,774,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PSX. Mizuho Securities USA LLC raised its holdings in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares during the last quarter. Boston Partners raised its stake in shares of Phillips 66 by 41.4% during the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Phillips 66 by 96.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after buying an additional 1,408,954 shares during the period. ING Groep NV boosted its stake in Phillips 66 by 123.2% in the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after acquiring an additional 653,032 shares during the last quarter. Finally, Mizuho Markets Americas LLC acquired a new stake in Phillips 66 during the 3rd quarter worth $70,983,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Up 1.2 %

NYSE:PSX opened at $131.32 on Tuesday. The stock has a 50-day simple moving average of $129.82 and a 200 day simple moving average of $135.64. Phillips 66 has a 52-week low of $114.94 and a 52-week high of $174.08. The company has a market cap of $54.23 billion, a PE ratio of 16.86, a PEG ratio of 4.29 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. The company 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 business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period last year, the business earned $4.63 EPS. On average, sell-side analysts expect that Phillips 66 will post 7.63 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. Shareholders of record on Monday, November 18th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 59.05%.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of analyst reports. Piper Sandler set a $144.00 price target on Phillips 66 in a research note on Thursday, October 17th. Morgan Stanley cut 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. Barclays decreased their target price on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. JPMorgan Chase & Co. cut 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. Finally, Raymond James boosted their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price 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.