Phillips 66 (NYSE:PSX) Shares Acquired by Allworth Financial LP

Allworth Financial LP lifted its holdings in Phillips 66 (NYSE:PSX) by 19.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,262 shares of the oil and gas company’s stock after purchasing an additional 2,484 shares during the quarter. Allworth Financial LP’s holdings in Phillips 66 were worth $1,809,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. nVerses Capital LLC purchased a new stake in Phillips 66 during the 3rd quarter worth approximately $26,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Phillips 66 by 22.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 118,782 shares of the oil and gas company’s stock valued at $15,614,000 after buying an additional 21,840 shares during the last quarter. Telos Capital Management Inc. increased its position in shares of Phillips 66 by 5.9% in the 3rd quarter. Telos Capital Management Inc. now owns 50,256 shares of the oil and gas company’s stock valued at $6,606,000 after acquiring an additional 2,810 shares during the period. Krane Funds Advisors LLC raised its stake in Phillips 66 by 3.6% in the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 82 shares during the last quarter. Finally, Oakworth Capital Inc. lifted its position in Phillips 66 by 36.5% during the 3rd quarter. Oakworth Capital Inc. now owns 1,660 shares of the oil and gas company’s stock worth $218,000 after acquiring an additional 444 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSX has been the subject of several research analyst reports. Mizuho reduced their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, February 14th. UBS Group reduced their target price 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, Barclays decreased their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Stock Performance

NYSE PSX opened at $130.51 on Wednesday. The stock has a market capitalization of $53.90 billion, a price-to-earnings ratio of 26.42, a PEG ratio of 5.64 and a beta of 1.37. The stock has a 50-day moving average of $118.70 and a 200 day moving average of $127.10. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the company earned $3.09 EPS. Sell-side analysts anticipate that Phillips 66 will post 7.14 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

About Phillips 66

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.