Rockefeller Capital Management L.P. Has $17.90 Million Stock Position in Phillips 66 (NYSE:PSX)

Rockefeller Capital Management L.P. trimmed its position in Phillips 66 (NYSE:PSX) by 4.0% in the third quarter, Holdings Channel.com reports. The institutional investor owned 136,104 shares of the oil and gas company’s stock after selling 5,724 shares during the period. Rockefeller Capital Management L.P.’s holdings in Phillips 66 were worth $17,897,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PSX. Mizuho Securities USA LLC lifted its stake in shares of Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after buying an additional 2,467,316 shares during the last quarter. ING Groep NV increased its position in Phillips 66 by 123.2% during the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after acquiring an additional 653,032 shares during the period. Bank of Montreal Can increased its position in Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after acquiring an additional 633,970 shares during the period. Mizuho Markets Americas LLC bought a new position in Phillips 66 during the third quarter worth $70,983,000. Finally, Bank of New York Mellon Corp increased its position in Phillips 66 by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after acquiring an additional 402,925 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on PSX. UBS Group dropped their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Barclays dropped their target price on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Morgan Stanley dropped their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a research report on Thursday, October 17th. Finally, Mizuho lowered their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Stock Up 0.5 %

Shares of NYSE:PSX opened at $133.98 on Monday. Phillips 66 has a 52 week low of $119.77 and a 52 week high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The company’s fifty day moving average is $130.68 and its 200-day moving average is $134.84. The company has a market capitalization of $55.33 billion, a PE ratio of 17.20, a P/E/G ratio of 4.37 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the previous year, the company earned $4.63 EPS. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. Equities research analysts predict that Phillips 66 will post 7.66 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business 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 annualized dividend and a yield of 3.43%. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Phillips 66 Profile

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.