Hsbc Holdings PLC Grows Holdings in Phillips 66 (NYSE:PSX)

Hsbc Holdings PLC raised its position in Phillips 66 (NYSE:PSX - Free Report) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,629,375 shares of the oil and gas company's stock after buying an additional 97,194 shares during the period. Hsbc Holdings PLC owned 0.39% of Phillips 66 worth $185,523,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Bogart Wealth LLC lifted its holdings in Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 120 shares during the period. J.Safra Asset Management Corp bought a new stake in shares of Phillips 66 during the 4th quarter worth $25,000. Stephens Consulting LLC boosted its holdings in shares of Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock worth $28,000 after buying an additional 111 shares during the last quarter. Graney & King LLC purchased a new position in shares of Phillips 66 in the 4th quarter worth about $28,000. Finally, Human Investing LLC purchased a new stake in Phillips 66 during the fourth quarter worth about $30,000. Institutional investors own 76.93% of the company's stock.

Phillips 66 Price Performance

NYSE:PSX opened at $100.83 on Wednesday. The firm has a market capitalization of $41.08 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 4.84 and a beta of 1.17. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a fifty day moving average of $117.31 and a 200 day moving average of $121.80. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $159.25.

Phillips 66 (NYSE:PSX - Get Free Report) last posted 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 return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the prior year, the firm earned $3.09 earnings per share. On average, research analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a dividend of $1.20 per share. This is an increase from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66's payout ratio is currently 93.12%.

Analysts Set New Price Targets

PSX has been the topic of a number of research analyst reports. Piper Sandler cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Wolfe Research raised Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. 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. Mizuho cut their price target on Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Finally, StockNews.com cut Phillips 66 from a "hold" rating to a "sell" rating in a research note on Sunday, March 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $142.00.

About Phillips 66

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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