Phillips 66 (NYSE:PSX) Shares Acquired by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its stake in Phillips 66 (NYSE:PSX) by 113.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,703 shares of the oil and gas company’s stock after acquiring an additional 3,030 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Phillips 66 were worth $750,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. nVerses Capital LLC acquired a new position in Phillips 66 during the third quarter worth $26,000. Bank & Trust Co purchased a new position in Phillips 66 during the 2nd quarter valued at about $31,000. Values First Advisors Inc. acquired a new position in Phillips 66 in the 3rd quarter valued at about $30,000. Opal Wealth Advisors LLC purchased a new stake in Phillips 66 during the second quarter worth about $34,000. Finally, Fortitude Family Office LLC boosted its stake in shares of Phillips 66 by 52.3% in the second 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 during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PSX. Morgan Stanley reduced their target price on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. JPMorgan Chase & Co. decreased their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Wells Fargo & Company cut their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Bank of America started coverage on 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, UBS Group cut their target price 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. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Stock Down 0.7 %

Phillips 66 stock opened at $133.35 on Friday. The company has a market capitalization of $55.07 billion, a P/E ratio of 17.12, a PEG ratio of 4.40 and a beta of 1.33. 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 has a fifty-two week low of $117.74 and a fifty-two week high of $174.08. The stock has a 50-day simple moving average of $130.60 and a 200-day simple moving average of $135.06.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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 business 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 company’s revenue was down 10.3% compared to the same quarter last year. During the same period in the prior year, the company 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.45%. 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.