Alley Investment Management Company LLC Has $6.38 Million Holdings in Phillips 66 (NYSE:PSX)

Alley Investment Management Company LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 55,976 shares of the oil and gas company’s stock after buying an additional 3,083 shares during the quarter. Alley Investment Management Company LLC’s holdings in Phillips 66 were worth $6,377,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PSX. Stephens Inc. AR increased its position in Phillips 66 by 1.5% during the third quarter. Stephens Inc. AR now owns 15,221 shares of the oil and gas company’s stock worth $2,001,000 after buying an additional 232 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Phillips 66 by 4.7% in the third quarter. Farther Finance Advisors LLC now owns 7,957 shares of the oil and gas company’s stock valued at $1,046,000 after purchasing an additional 354 shares during the period. Pure Financial Advisors LLC lifted its stake in shares of Phillips 66 by 18.3% during the 3rd quarter. Pure Financial Advisors LLC now owns 1,805 shares of the oil and gas company’s stock worth $237,000 after buying an additional 279 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Phillips 66 by 263.3% during the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after buying an additional 60,355 shares during the period. Finally, KG&L Capital Management LLC acquired a new position in Phillips 66 in the 3rd quarter valued at about $287,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Down 3.6 %

PSX stock opened at $125.03 on Tuesday. The company has a market cap of $50.97 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37. The business has a 50-day simple moving average of $120.89 and a 200 day simple moving average of $126.63. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the company posted $3.09 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date is Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Analysts Set New Price Targets

Several research analysts have weighed in on PSX shares. Barclays lowered their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Mizuho dropped their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Wells Fargo & Company upped their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. UBS Group dropped their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 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.