Moment Partners LLC acquired a new position in Phillips 66 (NYSE:PSX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,841 shares of the oil and gas company's stock, valued at approximately $552,000.
Several other hedge funds have also modified their holdings of PSX. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of Phillips 66 by 113.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,703 shares of the oil and gas company's stock worth $750,000 after buying an additional 3,030 shares during the last quarter. Cerity Partners LLC increased its stake in Phillips 66 by 8.7% during the third quarter. Cerity Partners LLC now owns 65,830 shares of the oil and gas company's stock worth $8,653,000 after acquiring an additional 5,255 shares during the last quarter. Quantbot Technologies LP purchased a new stake in Phillips 66 during the third quarter valued at approximately $4,511,000. Avestar Capital LLC lifted its stake in shares of Phillips 66 by 5.1% in the 3rd quarter. Avestar Capital LLC now owns 1,885 shares of the oil and gas company's stock valued at $248,000 after purchasing an additional 92 shares during the last quarter. Finally, Transamerica Financial Advisors Inc. boosted its holdings in shares of Phillips 66 by 45.7% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,674 shares of the oil and gas company's stock worth $220,000 after purchasing an additional 525 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.
Phillips 66 Stock Up 1.2 %
PSX stock traded up $1.45 during trading on Monday, reaching $123.21. 401,003 shares of the company traded hands, compared to its average volume of 3,522,519. The business has a 50 day simple moving average of $124.76 and a 200 day simple moving average of $125.52. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. 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 company has a market capitalization of $50.23 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31.
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) 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 in the prior year, the business posted $3.09 EPS. On average, equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.
Phillips 66 Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.73%. Phillips 66's payout ratio is 93.12%.
Wall Street Analyst Weigh In
Several research firms have commented on PSX. Barclays lifted their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Mizuho decreased their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. Piper Sandler cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Wolfe Research upgraded 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. Finally, StockNews.com lowered Phillips 66 from a "hold" rating to a "sell" rating in a research note on Sunday, March 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $146.43.
View Our Latest Stock Report on Phillips 66
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.
Read More
Before you consider Phillips 66, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Phillips 66 wasn't on the list.
While Phillips 66 currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
