Moors & Cabot Inc. Grows Stock Holdings in Phillips 66 (NYSE:PSX)

Moors & Cabot Inc. boosted its position in Phillips 66 (NYSE:PSX) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,012 shares of the oil and gas company’s stock after purchasing an additional 472 shares during the period. Moors & Cabot Inc.’s holdings in Phillips 66 were worth $1,579,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 during the 1st quarter valued at approximately $25,000. nVerses Capital LLC purchased a new stake in shares of Phillips 66 during the 3rd quarter valued at $26,000. Bank & Trust Co purchased a new stake in shares of Phillips 66 during the 2nd quarter valued at $31,000. Values First Advisors Inc. purchased a new stake in shares of Phillips 66 during the 3rd quarter valued at $30,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Phillips 66 during the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PSX. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a report on Thursday, October 17th. JPMorgan Chase & Co. cut their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Scotiabank lowered their price objective on shares of 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. Mizuho decreased 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. Finally, TD Cowen decreased their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Stock Up 0.4 %

Shares of NYSE:PSX opened at $131.41 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The company has a market cap of $54.27 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 4.29 and a beta of 1.33. Phillips 66 has a 52 week low of $114.94 and a 52 week high of $174.08. The firm has a 50 day simple moving average of $130.03 and a 200 day simple moving average of $135.52.

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 the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $4.63 EPS. As a group, research analysts expect that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed 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 annualized dividend and a yield of 3.50%. Phillips 66’s dividend payout ratio is presently 59.05%.

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.