Farringdon Capital Ltd. acquired a new stake in shares of Phillips 66 (NYSE:PSX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,053 shares of the oil and gas company's stock, valued at approximately $576,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Demars Financial Group LLC increased its holdings in shares of Phillips 66 by 10,390.0% during the fourth quarter. Demars Financial Group LLC now owns 446,036 shares of the oil and gas company's stock valued at $50,817,000 after acquiring an additional 441,784 shares in the last quarter. MSH Capital Advisors LLC bought a new stake in Phillips 66 during the 4th quarter valued at about $382,000. Master S Wealth Management Inc. purchased a new position in Phillips 66 in the fourth quarter worth about $272,000. Regal Investment Advisors LLC lifted its stake in shares of Phillips 66 by 29.7% in the fourth quarter. Regal Investment Advisors LLC now owns 5,809 shares of the oil and gas company's stock worth $662,000 after buying an additional 1,331 shares in the last quarter. Finally, Keeley Teton Advisors LLC grew its holdings in shares of Phillips 66 by 5.5% during the fourth quarter. Keeley Teton Advisors LLC now owns 10,109 shares of the oil and gas company's stock valued at $1,152,000 after buying an additional 527 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
PSX has been the subject of a number of recent analyst reports. StockNews.com lowered shares of Phillips 66 from a "hold" rating to a "sell" rating in a report on Sunday, March 2nd. Raymond James lowered their target price on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Wolfe Research upgraded 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 report on Friday, January 3rd. Piper Sandler lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. Finally, Barclays dropped their target price on Phillips 66 from $135.00 to $106.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $142.00.
Check Out Our Latest Analysis on Phillips 66
Phillips 66 Price Performance
PSX stock traded up $1.63 during mid-day trading on Wednesday, reaching $102.53. 813,433 shares of the company's stock were exchanged, compared to its average volume of 2,888,595. The company has a market cap of $41.77 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $159.25. The stock's 50 day moving average is $117.31 and its 200 day moving average is $121.80. 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 issued its quarterly 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 return on equity of 8.58% and a net margin of 1.46%. During the same quarter last year, the firm posted $3.09 EPS. On average, research analysts expect that Phillips 66 will post 6.8 EPS for the current year.
Phillips 66 Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.68%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's payout ratio is 93.12%.
About Phillips 66
(
Free Report)
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.
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