Larson Financial Group LLC Has $596,000 Stock Holdings in Phillips 66 (NYSE:PSX)

Larson Financial Group LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 17.2% in the third quarter, Holdings Channel reports. The firm owned 4,533 shares of the oil and gas company’s stock after purchasing an additional 664 shares during the quarter. Larson Financial Group LLC’s holdings in Phillips 66 were worth $596,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in PSX. nVerses Capital LLC bought a new stake in shares of Phillips 66 in the 3rd quarter worth about $26,000. Bank & Trust Co bought a new position in shares of Phillips 66 in the second quarter valued at approximately $31,000. Values First Advisors Inc. acquired a new position in shares of Phillips 66 in the 3rd quarter worth approximately $30,000. Opal Wealth Advisors LLC bought a new stake in Phillips 66 during the 2nd quarter worth approximately $34,000. Finally, Fortitude Family Office LLC increased its holdings in Phillips 66 by 52.3% during the 2nd quarter. Fortitude Family Office LLC now owns 265 shares of the oil and gas company’s stock valued at $37,000 after purchasing an additional 91 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Barclays reduced their price objective on 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. UBS Group decreased their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Morgan Stanley dropped their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a research note on Monday, September 16th. Scotiabank decreased their price target on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Wells Fargo & Company dropped their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $149.69.

Phillips 66 Stock Up 0.0 %

NYSE:PSX opened at $133.33 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12-month low of $117.32 and a 12-month high of $174.08. The stock’s fifty day simple moving average is $130.40 and its 200-day simple moving average is $135.17. The firm has a market capitalization of $55.06 billion, a P/E ratio of 17.12, a P/E/G ratio of 4.40 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company’s revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the business earned $4.63 earnings per share. Equities research analysts expect that Phillips 66 will post 7.57 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.45%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

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.