Rosenberg Matthew Hamilton lowered its position in shares of Phillips 66 (NYSE:PSX) by 27.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,981 shares of the oil and gas company’s stock after selling 750 shares during the period. Rosenberg Matthew Hamilton’s holdings in Phillips 66 were worth $103,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Fruth Investment Management lifted its holdings in shares of Phillips 66 by 1.2% in the 2nd quarter. Fruth Investment Management now owns 13,600 shares of the oil and gas company’s stock worth $977,000 after acquiring an additional 167 shares during the last quarter. Wealth Alliance Advisory Group LLC raised its holdings in Phillips 66 by 0.8% during the 2nd quarter. Wealth Alliance Advisory Group LLC now owns 21,730 shares of the oil and gas company’s stock valued at $1,562,000 after buying an additional 168 shares during the last quarter. Telemus Capital LLC raised its holdings in Phillips 66 by 1.4% during the 2nd quarter. Telemus Capital LLC now owns 12,873 shares of the oil and gas company’s stock valued at $786,000 after buying an additional 177 shares during the last quarter. Financial Management Professionals Inc. raised its holdings in Phillips 66 by 10.3% during the 2nd quarter. Financial Management Professionals Inc. now owns 1,975 shares of the oil and gas company’s stock valued at $142,000 after buying an additional 184 shares during the last quarter. Finally, Coastal Capital Group Inc. increased its position in Phillips 66 by 52.1% during the 2nd quarter. Coastal Capital Group Inc. now owns 552 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 189 shares during the period. 65.91% of the stock is owned by institutional investors.

PSX has been the topic of a number of research analyst reports. Barclays reduced their price objective on shares of Phillips 66 from $73.00 to $64.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 6th. Mizuho reduced their price objective on shares of Phillips 66 from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Wednesday, July 22nd. Morgan Stanley reduced their price objective on shares of Phillips 66 from $90.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. Scotiabank reduced their price objective on shares of Phillips 66 from $90.00 to $79.00 and set a “sector outperform” rating on the stock in a research report on Monday, July 13th. Finally, Bank of America reissued a “buy” rating and set a $100.00 price objective on shares of Phillips 66 in a research report on Monday, August 3rd. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $77.88.

In related news, Director John E. Lowe bought 1,000 shares of the stock in a transaction dated Tuesday, August 4th. The stock was bought at an average cost of $60.62 per share, with a total value of $60,620.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.63% of the company’s stock.

Shares of NYSE PSX traded down $1.93 during mid-day trading on Friday, reaching $50.58. 2,939,724 shares of the company’s stock were exchanged, compared to its average volume of 3,775,052. The company’s 50-day moving average is $55.84 and its 200-day moving average is $64.55. Phillips 66 has a 52-week low of $40.04 and a 52-week high of $119.92. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.73 and a current ratio of 1.25. The firm has a market capitalization of $22.09 billion, a price-to-earnings ratio of -18.26, a PEG ratio of 12.98 and a beta of 1.51.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, July 31st. The oil and gas company reported ($0.74) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.55). The business had revenue of $11.18 billion during the quarter, compared to analyst estimates of $14.92 billion. Phillips 66 had a negative net margin of 1.32% and a positive return on equity of 8.76%. During the same period in the prior year, the business earned $3.02 earnings per share. As a group, equities analysts predict that Phillips 66 will post 0.85 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 7.12%. The ex-dividend date is Monday, November 16th. Phillips 66’s dividend payout ratio (DPR) is 44.72%.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

Further Reading: Coverage Ratio

Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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