Generali Investments Management Co LLC Buys New Stake in Phillips 66 (NYSE:PSX)

Generali Investments Management Co LLC bought a new stake in Phillips 66 (NYSE:PSX) during the fourth quarter, HoldingsChannel.com reports. The fund bought 4,462 shares of the oil and gas company’s stock, valued at approximately $508,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PSX. TrinityPoint Wealth LLC increased its stake in Phillips 66 by 2.4% in the third quarter. TrinityPoint Wealth LLC now owns 5,312 shares of the oil and gas company’s stock valued at $698,000 after acquiring an additional 122 shares during the period. Quest Partners LLC increased its stake in Phillips 66 by 324,800.0% in the third quarter. Quest Partners LLC now owns 3,249 shares of the oil and gas company’s stock valued at $427,000 after acquiring an additional 3,248 shares during the period. Meeder Advisory Services Inc. grew its stake in Phillips 66 by 4.7% during the third quarter. Meeder Advisory Services Inc. now owns 10,013 shares of the oil and gas company’s stock worth $1,316,000 after buying an additional 449 shares during the last quarter. Caprock Group LLC grew its stake in Phillips 66 by 1.3% during the third quarter. Caprock Group LLC now owns 9,694 shares of the oil and gas company’s stock worth $1,274,000 after buying an additional 127 shares during the last quarter. Finally, OneAscent Financial Services LLC bought a new stake in Phillips 66 during the third quarter worth about $359,000. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Mizuho decreased their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Barclays upped their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.43.

Phillips 66 Trading Down 0.7 %

Shares of NYSE PSX opened at $128.34 on Wednesday. The company’s 50 day simple moving average is $123.37 and its 200 day simple moving average is $125.77. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08. The firm has a market capitalization of $52.32 billion, a P/E ratio of 25.98, a P/E/G ratio of 4.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data 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 net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the business earned $3.09 earnings per share. On average, analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.58%. Phillips 66’s dividend payout ratio is currently 93.12%.

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.