International Assets Investment Management LLC Acquires New Shares in Phillips 66 (NYSE:PSX)

International Assets Investment Management LLC acquired a new stake in Phillips 66 (NYSE:PSX - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 20,017 shares of the oil and gas company's stock, valued at approximately $2,290,000.

Other large investors also recently bought and sold shares of the company. Van ECK Associates Corp grew its holdings in Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company's stock worth $10,753,000 after acquiring an additional 60,355 shares during the period. Everence Capital Management Inc. purchased a new stake in shares of Phillips 66 during the 4th quarter worth $3,033,000. 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 worth $328,625,000 after purchasing an additional 2,467,316 shares during the period. Nwam LLC purchased a new position in shares of Phillips 66 in the 3rd quarter valued at about $498,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Phillips 66 by 2.8% in the third quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company's stock valued at $69,775,000 after purchasing an additional 14,209 shares during the period. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Price Performance

PSX stock traded up $1.07 during trading on Thursday, hitting $116.26. The company had a trading volume of 3,036,865 shares, compared to its average volume of 2,494,413. The business has a 50 day moving average of $123.22 and a 200 day moving average of $130.67. The firm has a market capitalization of $48.01 billion, a price-to-earnings ratio of 14.92, a P/E/G ratio of 4.06 and a beta of 1.38. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. During the same period last year, the firm posted $4.63 earnings per share. The firm's revenue for the quarter was down 10.3% compared to the same quarter last year. As a group, research analysts predict that Phillips 66 will post 7.56 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.96%. Phillips 66's payout ratio is presently 59.05%.

Analyst Upgrades and Downgrades

PSX has been the topic of several recent analyst reports. Mizuho lowered their target price on shares of Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. Piper Sandler set a $144.00 price objective on Phillips 66 in a research note on Thursday, October 17th. Wells Fargo & Company reduced their price objective on Phillips 66 from $167.00 to $161.00 and set an "overweight" rating for the company in a report on Monday, December 9th. Barclays dropped their price target on Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating for the company in a research report on Monday, November 11th. Finally, 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. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $148.57.

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.