Allstate Corp Invests $1.42 Million in Phillips 66 (NYSE:PSX)

Allstate Corp acquired a new position in shares of Phillips 66 (NYSE:PSX - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,429 shares of the oil and gas company's stock, valued at approximately $1,416,000.

A number of other institutional investors and hedge funds have also bought and sold shares of PSX. Oppenheimer & Co. Inc. raised its holdings in shares of Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company's stock valued at $5,349,000 after acquiring an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. purchased a new position in Phillips 66 during the 4th quarter valued at about $1,190,000. Everence Capital Management Inc. bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $3,033,000. Donoghue Forlines LLC purchased a new stake in shares of Phillips 66 in the 4th quarter worth approximately $1,438,000. Finally, Smith Group Asset Management LLC purchased a new stake in shares of Phillips 66 in the 4th quarter worth approximately $1,149,000. 76.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PSX. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Mizuho reduced their price target on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating for the company in a research report on Monday, December 16th. Piper Sandler downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. The Goldman Sachs Group lowered Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price on the stock. in a research note on Thursday, March 27th. Finally, Barclays increased their price target on shares of Phillips 66 from $115.00 to $135.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $146.43.

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Phillips 66 Stock Performance

Phillips 66 stock traded up $0.90 during mid-day trading on Tuesday, reaching $124.38. 2,000,871 shares of the company traded hands, compared to its average volume of 2,781,506. The firm's fifty day moving average is $124.90 and its two-hundred day moving average is $125.49. The company has a market capitalization of $50.71 billion, a price-to-earnings ratio of 25.18, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08. 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 - Get Free Report) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) 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 period last year, the company earned $3.09 earnings per share. On average, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.70%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66's payout ratio is 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.