Phillips 66 (NYSE:PSX) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 7.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,344,342 shares of the oil and gas company's stock after acquiring an additional 639,323 shares during the quarter. Bank of New York Mellon Corp owned about 2.26% of Phillips 66 worth $1,064,601,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PSX. Charles Schwab Investment Management Inc. increased its position in Phillips 66 by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company's stock worth $381,453,000 after purchasing an additional 16,941 shares during the last quarter. Mizuho Securities USA LLC grew its stake in shares of Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company's stock valued at $328,625,000 after buying an additional 2,467,316 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 buying an additional 633,970 shares during the last quarter. ING Groep NV raised its position in shares of Phillips 66 by 123.2% in 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 buying an additional 653,032 shares during the period. Finally, National Pension Service raised its position in shares of Phillips 66 by 6.8% in the 3rd quarter. National Pension Service now owns 1,001,734 shares of the oil and gas company's stock worth $131,678,000 after buying an additional 63,349 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Mizuho dropped their price target 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. UBS Group dropped their target price on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating for the company in a research report on Monday, November 4th. StockNews.com upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a report on Saturday, February 22nd. 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. Finally, Piper Sandler lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $148.00.

Phillips 66 Stock Up 1.9 %

NYSE:PSX traded up $2.40 on Friday, reaching $129.81. The stock had a trading volume of 5,739,901 shares, compared to its average volume of 3,654,164. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The stock has a market cap of $52.92 billion, a P/E ratio of 26.28, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $120.21 and a 200 day moving average of $126.90.

Phillips 66 (NYSE:PSX - Get Free Report) last issued 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 in the previous year, the company posted $3.09 earnings per share. On average, research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Monday, February 24th. Phillips 66's payout ratio is currently 93.12%.

Phillips 66 Company 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.