CFS Investment Advisory Services LLC Sells 4,327 Shares of Phillips 66 (NYSE:PSX)

CFS Investment Advisory Services LLC decreased its position in shares of Phillips 66 (NYSE:PSX) by 46.9% in the third quarter, HoldingsChannel reports. The firm owned 4,895 shares of the oil and gas company’s stock after selling 4,327 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in Phillips 66 were worth $643,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. nVerses Capital LLC purchased a new position in Phillips 66 during the 3rd quarter valued at approximately $26,000. Bank & Trust Co bought a new stake in Phillips 66 in the second quarter worth $31,000. Values First Advisors Inc. purchased a new stake in Phillips 66 during the third quarter valued at $30,000. Opal Wealth Advisors LLC purchased a new stake in Phillips 66 during the second quarter valued at $34,000. Finally, Fortitude Family Office LLC lifted its position in Phillips 66 by 52.3% during the second quarter. Fortitude Family Office LLC now owns 265 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 91 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PSX. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a report on Thursday, October 17th. Scotiabank reduced their price objective 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. Barclays lowered their price objective on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Mizuho dropped their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Finally, UBS Group decreased their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $149.69.

Phillips 66 Stock Up 1.4 %

NYSE:PSX opened at $133.28 on Friday. The stock has a fifty day simple moving average of $130.28 and a 200-day simple moving average of $135.42. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market cap of $55.04 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 4.34 and a beta of 1.33. Phillips 66 has a twelve month low of $117.32 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to analyst estimates 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 business posted $4.63 EPS. Analysts anticipate that Phillips 66 will post 7.57 EPS for the current year.

Phillips 66 Dividend Announcement

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 issued a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.45%. Phillips 66’s payout ratio is 59.05%.

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.