Infrastructure Capital Advisors LLC Increases Stock Position in Phillips 66 (NYSE:PSX)

Infrastructure Capital Advisors LLC increased its position in Phillips 66 (NYSE:PSX) by 80.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,490 shares of the oil and gas company’s stock after purchasing an additional 10,058 shares during the quarter. Infrastructure Capital Advisors LLC’s holdings in Phillips 66 were worth $2,956,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Mitchell & Pahl Private Wealth LLC boosted its stake in shares of Phillips 66 by 0.4% in the second quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock valued at $2,519,000 after purchasing an additional 74 shares during the period. Catalyst Financial Partners LLC boosted its stake in shares of Phillips 66 by 5.1% in 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 purchasing an additional 74 shares during the period. Advisory Alpha LLC boosted its stake 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 valued at $233,000 after purchasing an additional 76 shares during the period. Pinnacle Wealth Management Advisory Group LLC boosted its stake 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 valued at $616,000 after purchasing an additional 77 shares during the period. Finally, Krane Funds Advisors LLC boosted its stake in shares of Phillips 66 by 3.6% in the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 82 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Down 0.7 %

Shares of NYSE:PSX opened at $133.35 on Friday. The stock has a market capitalization of $55.07 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 4.35 and a beta of 1.33. Phillips 66 has a 1-year low of $117.74 and a 1-year high of $174.08. The company’s fifty day moving average is $130.60 and its two-hundred day moving average is $135.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

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 for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter last year, the company earned $4.63 EPS. The company’s revenue for the quarter was down 10.3% compared to the same quarter last year. Equities analysts anticipate that Phillips 66 will post 7.66 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.45%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

Wall Street Analysts Forecast Growth

PSX has been the subject of several analyst reports. Bank of America initiated coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. 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. Barclays reduced their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. TD Cowen reduced their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Finally, UBS Group reduced their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average 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.