Oppenheimer Asset Management Inc. Buys 235 Shares of Phillips 66 (NYSE:PSX)

Oppenheimer Asset Management Inc. grew its position in shares of Phillips 66 (NYSE:PSX) by 0.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,417 shares of the oil and gas company’s stock after buying an additional 235 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Phillips 66 were worth $12,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp boosted its position in Phillips 66 by 263.3% in the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after purchasing an additional 60,355 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in Phillips 66 during the second quarter valued at approximately $17,670,000. M&G Plc purchased a new stake in Phillips 66 during the second quarter valued at approximately $3,596,000. Cetera Investment Advisers raised its position in Phillips 66 by 318.9% in the first quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company’s stock worth $23,284,000 after acquiring an additional 108,515 shares during the period. Finally, Blair William & Co. IL boosted its stake in shares of Phillips 66 by 4.5% during the 1st quarter. Blair William & Co. IL now owns 187,152 shares of the oil and gas company’s stock worth $30,569,000 after acquiring an additional 8,102 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on PSX. TD Cowen cut their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Scotiabank decreased their target price 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. JPMorgan Chase & Co. dropped their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Wolfe Research assumed coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating on the stock. Finally, Bank of America began coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Stock Up 1.7 %

NYSE PSX opened at $129.92 on Thursday. The stock has a 50 day moving average price of $129.73 and a 200-day moving average price of $136.04. Phillips 66 has a one year low of $111.90 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The company has a market capitalization of $53.66 billion, a P/E ratio of 16.68, a P/E/G ratio of 4.18 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same period last year, the company posted $4.63 EPS. The business’s revenue was down 10.3% on a year-over-year basis. As a group, equities analysts predict that Phillips 66 will post 7.63 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.54%. Phillips 66’s dividend payout ratio is presently 59.05%.

Phillips 66 Company 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.