Fifth Third Bancorp reduced its stake in Phillips 66 (NYSE:PSX) by 3.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 75,238 shares of the oil and gas company’s stock after selling 2,344 shares during the period. Fifth Third Bancorp’s holdings in Phillips 66 were worth $3,900,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Baystate Wealth Management LLC raised its holdings in Phillips 66 by 71.6% in the 3rd quarter. Baystate Wealth Management LLC now owns 496 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 207 shares during the last quarter. Planned Solutions Inc. acquired a new stake in Phillips 66 in the 3rd quarter valued at $26,000. Balentine LLC grew its position in Phillips 66 by 185.3% in the 2nd quarter. Balentine LLC now owns 505 shares of the oil and gas company’s stock valued at $36,000 after purchasing an additional 328 shares during the period. Sageworth Trust Co acquired a new stake in Phillips 66 in the 3rd quarter valued at $28,000. Finally, Coastal Capital Group Inc. grew its position in Phillips 66 by 52.1% in the 2nd quarter. Coastal Capital Group Inc. now owns 552 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 189 shares during the period. Institutional investors own 65.91% of the company’s stock.
A number of equities analysts have issued reports on the stock. Bank of America reaffirmed a “buy” rating and set a $100.00 price objective on shares of Phillips 66 in a report on Monday, August 3rd. Piper Sandler cut their price objective on shares of Phillips 66 from $84.00 to $76.00 and set an “overweight” rating on the stock in a report on Friday, November 13th. Raymond James boosted their price target on shares of Phillips 66 from $60.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday. Barclays cut their price target on shares of Phillips 66 from $73.00 to $64.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Finally, Cowen cut their price target on shares of Phillips 66 from $69.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, November 2nd. Three equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $70.18.
Shares of Phillips 66 stock opened at $61.59 on Friday. The stock’s 50-day simple moving average is $51.86 and its 200 day simple moving average is $63.21. Phillips 66 has a 52-week low of $40.04 and a 52-week high of $118.92. The stock has a market capitalization of $26.90 billion, a P/E ratio of -22.23, a P/E/G ratio of 34.44 and a beta of 1.53. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.73 and a current ratio of 1.25.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, November 4th. The oil and gas company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.80) by $0.79. Phillips 66 had a positive return on equity of 8.76% and a negative net margin of 1.32%. During the same quarter in the previous year, the firm earned $3.11 EPS. Equities research analysts forecast that Phillips 66 will post -0.18 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 5.85%. The ex-dividend date of this dividend is Monday, November 16th. Phillips 66’s dividend payout ratio is presently 44.72%.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.
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