CreativeOne Wealth LLC Purchases 1,128 Shares of Phillips 66 (NYSE:PSX)

CreativeOne Wealth LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 43.9% during the third quarter, Holdings Channel reports. The firm owned 3,697 shares of the oil and gas company’s stock after acquiring an additional 1,128 shares during the period. CreativeOne Wealth LLC’s holdings in Phillips 66 were worth $486,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PSX. Bank of New York Mellon Corp boosted its stake in shares of Phillips 66 by 5.0% in 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 during the last quarter. Legal & General Group Plc boosted its position in Phillips 66 by 0.5% in the second 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 grew its stake in Phillips 66 by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock valued at $514,253,000 after purchasing an additional 111,261 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Phillips 66 by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock valued at $381,453,000 after purchasing an additional 16,941 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its stake in shares of Phillips 66 by 2.9% during the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock worth $397,193,000 after purchasing an additional 79,301 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on PSX shares. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research report on Thursday, October 17th. Barclays decreased their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Morgan Stanley dropped their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. UBS Group decreased their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, 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 report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $133.98 on Monday. The stock’s 50-day simple moving average is $130.68 and its two-hundred day simple moving average is $134.84. Phillips 66 has a twelve month low of $119.77 and a twelve month high of $174.08. The firm has a market capitalization of $55.33 billion, a P/E ratio of 17.20, a P/E/G ratio of 4.37 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 posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. During the same period in the prior year, the business earned $4.63 earnings per share. Phillips 66’s revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, equities analysts anticipate that Phillips 66 will post 7.66 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.43%. Phillips 66’s payout ratio is 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.