Phillips 66 (NYSE:PSX) Shares Acquired by Assetmark Inc.

Assetmark Inc. increased its position in shares of Phillips 66 (NYSE:PSX) by 20.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,692 shares of the oil and gas company’s stock after acquiring an additional 466 shares during the quarter. Assetmark Inc.’s holdings in Phillips 66 were worth $354,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 during the 1st quarter worth approximately $25,000. Strategic Financial Concepts LLC acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $26,000. nVerses Capital LLC purchased a new position in shares of Phillips 66 during the 3rd quarter worth $26,000. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 during the 3rd quarter worth about $30,000. Finally, Bank & Trust Co purchased a new stake in Phillips 66 in the 2nd quarter valued at about $31,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX opened at $130.91 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $129.75 and its 200-day simple moving average is $135.81. The firm has a market capitalization of $54.06 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 4.26 and a beta of 1.33. Phillips 66 has a twelve month low of $111.90 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results 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. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the company earned $4.63 EPS. Equities analysts forecast that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Announces Dividend

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 issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of recent analyst reports. Scotiabank dropped their price target 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. TD Cowen cut their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. UBS Group lowered their price target 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. Piper Sandler set a $144.00 target price on Phillips 66 in a research note on Thursday, October 17th. Finally, Wells Fargo & Company lowered their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a report on Wednesday, October 9th. 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

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.