Oppenheimer Asset Management Inc. Grows Stock Holdings in Phillips 66 (NYSE:PSX)

Oppenheimer Asset Management Inc. lifted its stake in shares of Phillips 66 (NYSE:PSX) by 0.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 94,417 shares of the oil and gas company’s stock after acquiring an additional 235 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Phillips 66 were worth $12,411,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of PSX. Vanguard Group Inc. lifted its holdings in shares of Phillips 66 by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock worth $6,741,218,000 after buying an additional 1,578,669 shares during the period. Bank of New York Mellon Corp lifted its stake in Phillips 66 by 5.0% in the second 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 acquiring an additional 402,925 shares during the period. Boston Partners grew its holdings 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 acquiring an additional 1,595,722 shares in the last quarter. Legal & General Group Plc increased its position in 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 valued at $522,240,000 after purchasing an additional 18,238 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of 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 in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

PSX opened at $129.92 on Thursday. The company has a market cap of $53.66 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 4.18 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. The firm’s 50-day moving average price is $129.73 and its 200-day moving average price is $136.04. Phillips 66 has a 52-week low of $111.90 and a 52-week 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 earnings per share (EPS) for the quarter, beating 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 business 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. 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 7.63 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 paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.54%. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Analyst Ratings Changes

A number of research firms have recently issued reports on PSX. JPMorgan Chase & Co. dropped their price objective 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. Mizuho dropped their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Wolfe Research initiated coverage on Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. 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 report on Monday, September 16th. Finally, Bank of America began coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $149.69.

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.