Stratos Investment Management LLC Has $3.36 Million Stock Holdings in Phillips 66 (NYSE:PSX)

Stratos Investment Management LLC increased its position in Phillips 66 (NYSE:PSX) by 1.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 25,525 shares of the oil and gas company’s stock after buying an additional 486 shares during the quarter. Stratos Investment Management LLC’s holdings in Phillips 66 were worth $3,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PSX. Manning & Napier Advisors LLC bought a new position in shares of Phillips 66 during the second quarter valued at $17,670,000. M&G Plc bought a new position in Phillips 66 during the 2nd quarter worth $3,596,000. Duality Advisers LP acquired a new position in Phillips 66 during the 1st quarter worth about $3,596,000. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Phillips 66 by 42.3% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 133,736 shares of the oil and gas company’s stock valued at $21,844,000 after buying an additional 39,775 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S increased its stake in shares of Phillips 66 by 69.8% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,802 shares of the oil and gas company’s stock valued at $6,175,000 after buying an additional 15,542 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $132.60 on Friday. The stock has a market cap of $55.50 billion, a P/E ratio of 11.37, a P/E/G ratio of 5.75 and a beta of 1.33. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56. The company’s 50 day moving average price is $133.18 and its two-hundred day moving average price is $140.63. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The business had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter in the previous year, the firm earned $3.87 earnings per share. The business’s revenue was up 8.9% on a year-over-year basis. On average, equities analysts predict that Phillips 66 will post 7.85 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently announced 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 3.47%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 39.45%.

Analyst Ratings Changes

Several analysts recently commented on the company. Scotiabank reduced their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Raymond James upped their target price on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. JPMorgan Chase & Co. lowered their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Bank of America assumed coverage on Phillips 66 in a report on Thursday. They set a “buy” rating and a $156.00 price target on the stock. Finally, Wells Fargo & Company cut their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $149.50.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total transaction of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is currently owned by insiders.

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.