Mirador Capital Partners LP Acquires 1,325 Shares of Phillips 66 (NYSE:PSX)

Mirador Capital Partners LP raised its holdings in shares of Phillips 66 (NYSE:PSX) by 2.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 47,549 shares of the oil and gas company’s stock after purchasing an additional 1,325 shares during the period. Phillips 66 accounts for 1.1% of Mirador Capital Partners LP’s portfolio, making the stock its 22nd largest position. Mirador Capital Partners LP’s holdings in Phillips 66 were worth $6,250,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Manning & Napier Advisors LLC purchased a new position in Phillips 66 during the second quarter valued at $17,670,000. M&G Plc bought a new position in Phillips 66 in the 2nd quarter worth about $3,596,000. Duality Advisers LP purchased a new stake in Phillips 66 during the 1st quarter valued at about $3,596,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Phillips 66 by 42.3% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock worth $21,844,000 after buying an additional 39,775 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in Phillips 66 by 14.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock worth $38,530,000 after buying an additional 36,116 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE:PSX traded down $0.31 during mid-day trading on Friday, reaching $138.62. 2,468,549 shares of the company traded hands, compared to its average volume of 2,733,967. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The firm has a market cap of $58.77 billion, a PE ratio of 10.66, a PEG ratio of 5.28 and a beta of 1.33. The company’s 50 day moving average price is $133.83 and its 200-day moving average price is $142.39. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The firm had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. During the same period in the prior year, the company posted $3.87 earnings per share. The company’s revenue for the quarter was up 8.9% compared to the same quarter last year. On average, equities analysts expect that Phillips 66 will post 8.27 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a $1.15 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.32%. Phillips 66’s payout ratio is 35.38%.

Analysts Set New Price Targets

PSX has been the subject of several analyst reports. Barclays raised their price target on shares of Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Piper Sandler lowered their price target on Phillips 66 from $151.00 to $136.00 and set an “overweight” rating on the stock in a report on Friday, September 20th. Mizuho reduced their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Wells Fargo & Company upped their target price on shares of Phillips 66 from $176.00 to $182.00 and gave the company an “overweight” rating in a research note on Tuesday, September 3rd. Finally, TD Cowen reduced their price target on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $152.71.

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.