MQS Management LLC Has $391,000 Stock Position in Phillips 66 (NYSE:PSX)

MQS Management LLC lifted its stake in shares of Phillips 66 (NYSE:PSX) by 25.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,975 shares of the oil and gas company’s stock after purchasing an additional 612 shares during the quarter. MQS Management LLC’s holdings in Phillips 66 were worth $391,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Phillips 66 by 4.0% in the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after purchasing an additional 1,578,669 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Phillips 66 by 5.0% during the 2nd 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 buying an additional 402,925 shares during the period. Boston Partners boosted its position in Phillips 66 by 41.4% during the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares during the period. Legal & General Group Plc grew its holdings in 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 worth $522,240,000 after acquiring an additional 18,238 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Phillips 66 by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock valued at $514,253,000 after acquiring an additional 111,261 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Scotiabank reduced their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. UBS Group decreased their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. TD Cowen cut their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. JPMorgan Chase & Co. reduced their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Finally, Barclays dropped their price target 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. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Trading Up 1.7 %

Shares of PSX opened at $129.92 on Thursday. The firm has a market cap of $53.66 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 4.18 and a beta of 1.33. Phillips 66 has a fifty-two week low of $111.90 and a fifty-two 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 business has a 50-day moving average of $129.73 and a 200 day moving average of $136.04.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $36.31 billion. During the same period in the prior year, the company posted $4.63 EPS. Phillips 66’s revenue was down 10.3% compared to the same quarter last year. As a group, research analysts forecast that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

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.