Islay Capital Management LLC Boosts Stock Position in Phillips 66 (NYSE:PSX)

Islay Capital Management LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 6.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,935 shares of the oil and gas company’s stock after buying an additional 300 shares during the period. Islay Capital Management LLC’s holdings in Phillips 66 were worth $649,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Mitchell & Pahl Private Wealth LLC lifted its holdings in shares of Phillips 66 by 0.4% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after acquiring an additional 74 shares during the last quarter. Catalyst Financial Partners LLC boosted its position in Phillips 66 by 5.1% during the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock valued at $214,000 after buying an additional 74 shares during the period. Advisory Alpha LLC increased its holdings in shares of Phillips 66 by 4.8% in the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after buying an additional 76 shares during the period. Pinnacle Wealth Management Advisory Group LLC increased its holdings in shares of Phillips 66 by 1.8% in the second quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock worth $616,000 after buying an additional 77 shares during the period. Finally, Krane Funds Advisors LLC lifted its stake in shares of Phillips 66 by 3.6% in the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 82 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $130.91 on Monday. Phillips 66 has a 12 month low of $111.90 and a 12 month high of $174.08. The stock has a market cap of $54.06 billion, a PE ratio of 16.80, a price-to-earnings-growth ratio of 4.29 and a beta of 1.33. The company’s fifty day moving average price is $129.75 and its 200-day moving average price is $135.73. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share 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 business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the firm earned $4.63 earnings per share. The business’s revenue for the quarter was down 10.3% on a year-over-year basis. On average, equities analysts expect that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Raymond James lifted their price target on Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Bank of America started coverage on shares of Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target for the company. Barclays cut 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 report on Monday, November 11th. Scotiabank lowered their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Morgan Stanley cut their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.69.

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.