Drive Wealth Management LLC Has $917,000 Stock Holdings in Phillips 66 (NYSE:PSX)

Drive Wealth Management LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 76.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,976 shares of the oil and gas company’s stock after buying an additional 3,031 shares during the period. Drive Wealth Management LLC’s holdings in Phillips 66 were worth $917,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the business. Bank of New York Mellon Corp increased its holdings in shares of Phillips 66 by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after purchasing an additional 402,925 shares during the period. Boston Partners grew its position in Phillips 66 by 41.4% during the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after purchasing an additional 1,595,722 shares in the last quarter. Legal & General Group Plc increased its stake in Phillips 66 by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock valued at $522,240,000 after buying an additional 18,238 shares during the period. Dimensional Fund Advisors LP lifted its position in Phillips 66 by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock worth $514,253,000 after buying an additional 111,261 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its stake in shares of Phillips 66 by 96.9% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after buying an additional 1,408,954 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 0.9 %

Shares of NYSE:PSX opened at $130.91 on Monday. 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 stock’s 50-day moving average is $129.75 and its 200-day moving average is $135.73. The company has a market cap of $54.06 billion, a P/E ratio of 16.80, a P/E/G ratio of 4.29 and a beta of 1.33. Phillips 66 has a 52-week low of $111.90 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.63 EPS. Equities research analysts predict that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced 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. This represents a $4.60 annualized dividend and a yield of 3.51%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is currently 59.05%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PSX. UBS Group dropped their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Morgan Stanley dropped their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Scotiabank reduced their target price on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Bank of America started coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective for the company. Finally, Barclays lowered their target price on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $149.69.

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.