TCTC Holdings LLC Acquires 1,655 Shares of Phillips 66 (NYSE:PSX)

TCTC Holdings LLC increased its position in Phillips 66 (NYSE:PSX) by 1.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,123 shares of the oil and gas company’s stock after acquiring an additional 1,655 shares during the quarter. TCTC Holdings LLC’s holdings in Phillips 66 were worth $21,048,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new stake in Phillips 66 in the first quarter worth $25,000. Strategic Financial Concepts LLC bought a new stake in shares of Phillips 66 in the second quarter valued at about $26,000. nVerses Capital LLC bought a new stake in shares of Phillips 66 in the third quarter valued at about $26,000. Values First Advisors Inc. purchased a new position in Phillips 66 in the third quarter valued at about $30,000. Finally, Bank & Trust Co purchased a new position in Phillips 66 in the second quarter valued at about $31,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PSX. Wells Fargo & Company dropped their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Wolfe Research assumed coverage on Phillips 66 in a research note on Thursday, July 18th. They set a “peer perform” rating for the company. TD Cowen dropped their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Scotiabank dropped their price target on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Mizuho dropped their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $150.38.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $126.47 on Friday. The firm has a market capitalization of $52.23 billion, a PE ratio of 16.23, a P/E/G ratio of 4.17 and a beta of 1.33. 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 business has a 50-day moving average of $130.12 and a two-hundred day moving average of $136.72. Phillips 66 has a 12 month low of $110.54 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last issued 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 return on equity of 13.12% and a net margin of 2.24%. The firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter in the prior year, the business posted $4.63 earnings per share. Phillips 66’s revenue for the quarter was down 10.3% on a year-over-year basis. As a group, research analysts forecast that Phillips 66 will post 7.68 earnings per share 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 dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.22% of the company’s stock.

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.