Prospera Private Wealth LLC Acquires 1,661 Shares of Phillips 66 (NYSE:PSX)

Prospera Private Wealth LLC grew its holdings in shares of Phillips 66 (NYSE:PSX) by 98.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,349 shares of the oil and gas company’s stock after buying an additional 1,661 shares during the quarter. Prospera Private Wealth LLC’s holdings in Phillips 66 were worth $440,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp lifted its position in Phillips 66 by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock worth $1,189,035,000 after buying an additional 402,925 shares in the last quarter. Boston Partners lifted its position in Phillips 66 by 41.4% during the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Phillips 66 by 0.5% during the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock worth $522,240,000 after purchasing an additional 18,238 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Phillips 66 by 3.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock worth $514,253,000 after purchasing an additional 111,261 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Phillips 66 by 96.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock worth $467,743,000 after purchasing an additional 1,408,954 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $131.41 on Thursday. The company’s 50 day moving average price is $130.03 and its two-hundred day moving average price is $135.52. Phillips 66 has a 12-month low of $114.94 and a 12-month high of $174.08. The firm has a market cap of $54.27 billion, a PE ratio of 16.87, a PEG ratio of 4.29 and a beta of 1.33. The company has a quick ratio of 0.83, a current ratio of 1.21 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 (EPS) 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 firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the prior year, the business posted $4.63 EPS. The business’s revenue was down 10.3% compared to the same quarter last year. Equities research analysts predict that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm 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 dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.50%. Phillips 66’s payout ratio is presently 59.05%.

Analysts Set New Price Targets

PSX has been the topic of several recent analyst reports. Raymond James boosted their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Mizuho lowered their price objective on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Barclays lowered 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. UBS Group lowered 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. Finally, Scotiabank decreased their price target 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. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.