Telos Capital Management Inc. Grows Holdings in Phillips 66 (NYSE:PSX)

Telos Capital Management Inc. grew its stake in shares of Phillips 66 (NYSE:PSX) by 5.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,256 shares of the oil and gas company’s stock after purchasing an additional 2,810 shares during the quarter. Telos Capital Management Inc.’s holdings in Phillips 66 were worth $6,606,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in PSX. Ballentine Partners LLC grew its stake in Phillips 66 by 3.9% in the 1st quarter. Ballentine Partners LLC now owns 2,913 shares of the oil and gas company’s stock worth $476,000 after acquiring an additional 110 shares in the last quarter. Global Assets Advisory LLC purchased a new stake in shares of Phillips 66 in the first quarter valued at approximately $4,696,000. Gateway Investment Advisers LLC boosted its holdings in shares of Phillips 66 by 19.8% in the first quarter. Gateway Investment Advisers LLC now owns 11,705 shares of the oil and gas company’s stock valued at $1,912,000 after purchasing an additional 1,934 shares during the period. Community Bank of Raymore grew its stake in Phillips 66 by 25.6% in the first quarter. Community Bank of Raymore now owns 1,962 shares of the oil and gas company’s stock worth $320,000 after purchasing an additional 400 shares in the last quarter. Finally, West Paces Advisors Inc. increased its holdings in Phillips 66 by 4.0% during the 1st quarter. West Paces Advisors Inc. now owns 4,518 shares of the oil and gas company’s stock worth $738,000 after purchasing an additional 175 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Trading Down 1.0 %

Phillips 66 stock opened at $131.32 on Tuesday. Phillips 66 has a 52 week low of $107.85 and a 52 week high of $174.08. The stock has a 50-day moving average price of $133.09 and a 200 day moving average price of $139.92. 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 has a market capitalization of $55.67 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 5.75 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. The business had revenue of $38.91 billion during the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business’s quarterly revenue was up 8.9% compared to the same quarter last year. During the same period in the previous year, the business posted $3.87 EPS. Sell-side analysts anticipate that Phillips 66 will post 7.85 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.50%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio is currently 35.38%.

Insider Buying and Selling at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. TD Cowen dropped their price target 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. Wolfe Research initiated coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research note on Thursday, October 17th. Bank of America began coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. Finally, JPMorgan Chase & Co. reduced their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.50.

Phillips 66 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.