Phillips 66 (NYSE:PSX) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA decreased its holdings in Phillips 66 (NYSE:PSX) by 0.1% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 161,551 shares of the oil and gas company’s stock after selling 111 shares during the period. Glenmede Trust Co. NA’s holdings in Phillips 66 were worth $21,236,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PSX. Van ECK Associates Corp increased its stake in Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after acquiring an additional 60,355 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in Phillips 66 during the second quarter valued at approximately $17,670,000. M&G Plc acquired a new stake in shares of Phillips 66 in the second quarter worth $3,596,000. Mizuho Securities USA LLC raised its stake in shares of Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares during the period. Finally, Cetera Investment Advisers increased its holdings in 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 valued at $23,284,000 after purchasing an additional 108,515 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $133.31 on Thursday. Phillips 66 has a 12 month low of $117.74 and a 12 month high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock’s 50 day moving average price is $130.58 and its 200 day moving average price is $135.07. The stock has a market cap of $55.06 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 4.40 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.63 earnings per share. Equities research analysts anticipate that Phillips 66 will post 7.57 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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 paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.45%. Phillips 66’s dividend payout ratio (DPR) is currently 59.05%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PSX. Bank of America assumed coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Morgan Stanley reduced their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a report on Thursday, October 17th. Scotiabank cut 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 report on Thursday, October 10th. Finally, UBS Group lowered their target price 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. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.