Phillips 66 (NYSE:PSX) Shares Sold by Versor Investments LP

Versor Investments LP trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 58.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,800 shares of the oil and gas company’s stock after selling 5,338 shares during the quarter. Versor Investments LP’s holdings in Phillips 66 were worth $500,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Van ECK Associates Corp raised its position in shares of Phillips 66 by 263.3% in the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after purchasing an additional 60,355 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Phillips 66 during the 2nd quarter valued at $17,670,000. M&G Plc acquired a new position in Phillips 66 during the 2nd quarter worth $3,596,000. Cetera Investment Advisers increased its position in shares of Phillips 66 by 318.9% in the 1st quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company’s stock worth $23,284,000 after purchasing an additional 108,515 shares during the last quarter. Finally, Olympiad Research LP bought a new position in shares of Phillips 66 during the third quarter worth about $607,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.1 %

Shares of Phillips 66 stock opened at $129.76 on Friday. 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 has a 1-year low of $111.90 and a 1-year high of $174.08. The business’s fifty day moving average price is $129.68 and its two-hundred day moving average price is $136.00. The company has a market capitalization of $53.59 billion, a P/E ratio of 16.66, a PEG ratio of 4.18 and a beta of 1.33.

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 the consensus estimate of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.63 earnings per share. As a group, research analysts forecast that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.55%. Phillips 66’s payout ratio is 59.05%.

Analyst Upgrades and Downgrades

PSX has been the topic of several research reports. Barclays cut their price objective on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday. Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective on the stock. Wells Fargo & Company lowered their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Mizuho reduced their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Finally, UBS Group lowered their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Five 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 Company 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.