Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 14.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,272 shares of the oil and gas company’s stock after purchasing an additional 1,909 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Phillips 66 were worth $1,722,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Acropolis Investment Management LLC bought a new stake in Phillips 66 during the 2nd quarter valued at approximately $106,000. Capital Advisors Ltd. LLC boosted its stake in Phillips 66 by 152.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 944 shares of the oil and gas company’s stock valued at $106,000 after purchasing an additional 570 shares during the period. Tuttle Tactical Management bought a new stake in Phillips 66 during the 2nd quarter valued at approximately $107,000. Baker Ellis Asset Management LLC bought a new stake in Phillips 66 during the 2nd quarter valued at approximately $111,000. Finally, Kaizen Advisory LLC boosted its stake in Phillips 66 by 144.3% during the 2nd quarter. Kaizen Advisory LLC now owns 1,004 shares of the oil and gas company’s stock valued at $113,000 after purchasing an additional 593 shares during the period. Hedge funds and other institutional investors own 70.10% of the company’s stock.
Phillips 66 stock opened at $99.74 on Friday. The company has a quick ratio of 0.82, a current ratio of 1.28 and a debt-to-equity ratio of 0.43. The company has a market cap of $47.55 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.41 and a beta of 0.99. Phillips 66 has a one year low of $89.14 and a one year high of $123.97.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Monday, November 19th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, November 16th. This represents a $3.20 annualized dividend and a dividend yield of 3.21%. Phillips 66’s dividend payout ratio (DPR) is presently 73.06%.
Several analysts recently weighed in on PSX shares. Barclays upgraded Phillips 66 from an “underweight” rating to an “equal weight” rating and decreased their target price for the company from $133.00 to $128.00 in a research note on Wednesday, October 3rd. Zacks Investment Research upgraded Phillips 66 from a “hold” rating to a “buy” rating and set a $135.00 price objective for the company in a research report on Friday, August 31st. Jefferies Financial Group upgraded Phillips 66 from an “underperform” rating to a “hold” rating and set a $108.00 price objective for the company in a research report on Tuesday, October 16th. Citigroup raised their price objective on Phillips 66 from $126.00 to $130.00 and gave the stock a “neutral” rating in a research report on Friday, September 7th. Finally, ValuEngine downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. Twelve investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $121.79.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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