Kayne Anderson Capital Advisors LP Sells 258,964 Shares of Phillips 66 (NYSE:PSX)

Kayne Anderson Capital Advisors LP reduced its position in shares of Phillips 66 (NYSE:PSX) by 99.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,361 shares of the oil and gas company’s stock after selling 258,964 shares during the quarter. Kayne Anderson Capital Advisors LP’s holdings in Phillips 66 were worth $179,000 as of its most recent SEC filing.

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

Phillips 66 Trading Up 0.9 %

Shares of PSX stock opened at $130.91 on Monday. The stock has a market capitalization of $54.06 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 4.29 and a beta of 1.33. The company’s fifty day simple moving average is $129.75 and its two-hundred day simple moving average is $135.73. Phillips 66 has a 1 year low of $111.90 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion during 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 company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.63 EPS. As a group, analysts anticipate that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed 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. 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 dividend payout ratio (DPR) is 59.05%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays decreased their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. JPMorgan Chase & Co. reduced their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. UBS Group dropped their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Raymond James upped their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Finally, Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research note on Thursday, October 17th. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $149.69.

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.