Principal Financial Group Inc. grew its position in Phillips 66 (NYSE:PSX - Free Report) by 2.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 530,807 shares of the oil and gas company's stock after acquiring an additional 14,209 shares during the period. Principal Financial Group Inc. owned about 0.13% of Phillips 66 worth $69,775,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Mizuho Securities USA LLC increased its position in Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company's stock worth $328,625,000 after buying an additional 2,467,316 shares during the last quarter. ING Groep NV boosted its stake in shares of Phillips 66 by 123.2% during the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company's stock worth $155,503,000 after acquiring an additional 653,032 shares during the period. Bank of Montreal Can increased its holdings in shares of Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company's stock worth $214,120,000 after acquiring an additional 633,970 shares during the last quarter. Mizuho Markets Americas LLC bought a new stake in Phillips 66 in the 3rd quarter valued at $70,983,000. Finally, Canada Pension Plan Investment Board lifted its holdings in Phillips 66 by 574.0% during the 2nd quarter. Canada Pension Plan Investment Board now owns 443,044 shares of the oil and gas company's stock valued at $62,545,000 after purchasing an additional 377,314 shares during the last quarter. 76.93% of the stock is owned by institutional investors.
Shares of NYSE PSX opened at $110.37 on Friday. Phillips 66 has a 52 week low of $109.39 and a 52 week high of $174.08. The stock's fifty day moving average is $127.59 and its 200 day moving average is $132.94. 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 has a market capitalization of $45.58 billion, a P/E ratio of 14.17, a PEG ratio of 4.06 and a beta of 1.35.
Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business's revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the previous year, the company earned $4.63 EPS. Sell-side analysts forecast that Phillips 66 will post 7.56 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Monday, November 18th. Phillips 66's dividend payout ratio is presently 59.05%.
Several equities analysts have recently weighed in on the stock. Barclays dropped their price objective 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. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a report on Thursday, October 17th. Wells Fargo & Company reduced their price objective on Phillips 66 from $167.00 to $161.00 and set an "overweight" rating for the company in a report on Monday, December 9th. Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They set a "buy" rating and a $156.00 price target for the company. Finally, TD Cowen decreased their price objective on Phillips 66 from $162.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $149.00.
Get Our Latest Stock Analysis on PSX
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.
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