Qsemble Capital Management LP Invests $2.44 Million in Phillips 66 (NYSE:PSX)

Qsemble Capital Management LP acquired a new stake in Phillips 66 (NYSE:PSX) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 18,591 shares of the oil and gas company’s stock, valued at approximately $2,444,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Bank of Montreal Can lifted its stake in shares of Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after buying an additional 633,970 shares during the period. Estate Counselors LLC boosted its position in shares of Phillips 66 by 7.2% in the third quarter. Estate Counselors LLC now owns 13,525 shares of the oil and gas company’s stock worth $1,778,000 after acquiring an additional 910 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in Phillips 66 by 13.1% during the third quarter. Daiwa Securities Group Inc. now owns 62,260 shares of the oil and gas company’s stock worth $8,184,000 after purchasing an additional 7,235 shares during the period. Marco Investment Management LLC boosted its holdings in shares of Phillips 66 by 2.4% in the 3rd quarter. Marco Investment Management LLC now owns 77,922 shares of the oil and gas company’s stock valued at $10,243,000 after purchasing an additional 1,802 shares during the last quarter. Finally, Summit Trail Advisors LLC grew its stake in shares of Phillips 66 by 18.0% during the 3rd quarter. Summit Trail Advisors LLC now owns 9,604 shares of the oil and gas company’s stock valued at $1,262,000 after buying an additional 1,464 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $133.33 on Tuesday. The stock has a market capitalization of $55.06 billion, a PE ratio of 17.12, a price-to-earnings-growth ratio of 4.40 and a beta of 1.33. The business’s fifty day moving average price is $130.40 and its 200 day moving average price is $135.17. 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 12-month low of $117.32 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.63 EPS. Equities research analysts forecast that Phillips 66 will post 7.57 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. Shareholders of record on Monday, November 18th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.45%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Analysts Set New Price Targets

PSX has been the topic of several research reports. TD Cowen cut their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. UBS Group reduced their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Mizuho dropped their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Wells Fargo & Company decreased their price objective 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. Finally, Raymond James lifted their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $149.69.

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.