CreativeOne Wealth LLC Purchases 1,128 Shares of Phillips 66 (NYSE:PSX)

CreativeOne Wealth LLC raised its position in Phillips 66 (NYSE:PSX) by 43.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,697 shares of the oil and gas company’s stock after purchasing an additional 1,128 shares during the quarter. CreativeOne Wealth LLC’s holdings in Phillips 66 were worth $486,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Cynosure Group LLC acquired a new position in shares of Phillips 66 in the third quarter valued at approximately $201,000. Townsquare Capital LLC increased its position in Phillips 66 by 6.3% in the 3rd quarter. Townsquare Capital LLC now owns 24,125 shares of the oil and gas company’s stock valued at $3,171,000 after acquiring an additional 1,427 shares during the period. Transamerica Financial Advisors Inc. increased its position in Phillips 66 by 45.7% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,674 shares of the oil and gas company’s stock valued at $220,000 after acquiring an additional 525 shares during the period. Avestar Capital LLC raised its stake in shares of Phillips 66 by 5.1% during the third quarter. Avestar Capital LLC now owns 1,885 shares of the oil and gas company’s stock valued at $248,000 after acquiring an additional 92 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new position in shares of Phillips 66 during the third quarter worth $4,511,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on PSX shares. Scotiabank decreased their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Bank of America assumed coverage on Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. Morgan Stanley reduced their target price 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. UBS Group lowered their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. dropped their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Stock Up 0.5 %

Shares of NYSE:PSX opened at $133.98 on Monday. The firm has a market cap of $55.33 billion, a P/E ratio of 17.20, a PEG ratio of 4.37 and a beta of 1.33. Phillips 66 has a 52-week low of $119.77 and a 52-week high of $174.08. The business’s 50 day simple moving average is $130.68 and its two-hundred day simple moving average is $134.84. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $36.31 billion. During the same quarter last year, the firm posted $4.63 EPS. Phillips 66’s revenue was down 10.3% compared to the same quarter last year. As a group, research analysts forecast that Phillips 66 will post 7.66 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 dividend on an annualized basis and a dividend yield of 3.43%. 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.