World Investment Advisors LLC Makes New $796,000 Investment in Phillips 66 (NYSE:PSX)

World Investment Advisors LLC bought a new stake in Phillips 66 (NYSE:PSX) during the third quarter, Holdings Channel reports. The institutional investor bought 6,054 shares of the oil and gas company’s stock, valued at approximately $796,000.

A number of other hedge funds have also made changes to their positions in the stock. Bank of New York Mellon Corp increased its stake in Phillips 66 by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after buying an additional 402,925 shares during the period. Legal & General Group Plc grew its holdings in shares of Phillips 66 by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after acquiring an additional 18,238 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Phillips 66 by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock worth $514,253,000 after acquiring an additional 111,261 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Phillips 66 by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after acquiring an additional 16,941 shares in the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in Phillips 66 by 2.9% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock valued at $397,193,000 after purchasing an additional 79,301 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on PSX. Morgan Stanley cut their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research report on Thursday, October 17th. Mizuho decreased their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday. UBS Group cut their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $149.00.

Phillips 66 Stock Down 5.2 %

PSX stock opened at $116.28 on Tuesday. The stock has a market capitalization of $48.02 billion, a price-to-earnings ratio of 14.93, a price-to-earnings-growth ratio of 4.06 and a beta of 1.35. The company has a 50-day moving average of $129.42 and a two-hundred day moving average of $133.66. Phillips 66 has a 52-week low of $116.07 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 posted its quarterly earnings data 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 business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.63 EPS. As a group, equities research analysts anticipate that Phillips 66 will post 7.56 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were paid a $1.15 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.96%. 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.