Phillips 66 (NYSE:PSX) is Adams Natural Resources Fund Inc.'s 10th Largest Position

Adams Natural Resources Fund Inc. raised its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 40.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 138,175 shares of the oil and gas company's stock after purchasing an additional 39,600 shares during the quarter. Phillips 66 accounts for approximately 2.5% of Adams Natural Resources Fund Inc.'s investment portfolio, making the stock its 10th largest holding. Adams Natural Resources Fund Inc.'s holdings in Phillips 66 were worth $15,742,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Raymond James Financial Inc. purchased a new position in shares of Phillips 66 during the fourth quarter valued at $168,790,000. Amundi lifted its stake in Phillips 66 by 25.7% in the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company's stock worth $428,081,000 after acquiring an additional 753,653 shares during the period. Bank of New York Mellon Corp grew its holdings in Phillips 66 by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company's stock worth $1,064,601,000 after acquiring an additional 639,323 shares in the last quarter. Bank of Montreal Can increased its position in 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 valued at $214,120,000 after purchasing an additional 633,970 shares during the period. Finally, Weiss Asset Management LP bought a new stake in shares of Phillips 66 in the 3rd quarter valued at about $34,042,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

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Phillips 66 Stock Performance

PSX stock traded up $1.05 during trading on Wednesday, reaching $126.54. The company had a trading volume of 1,714,664 shares, compared to its average volume of 2,617,022. The company has a market cap of $51.59 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. Phillips 66 has a twelve month low of $108.91 and a twelve 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 firm has a 50-day simple moving average of $124.49 and a 200-day simple moving average of $125.56.

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 last year, the company earned $3.09 EPS. As a group, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.64%. Phillips 66's payout ratio is presently 93.12%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PSX. Barclays increased their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. Wolfe Research raised Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Mizuho reduced their price target on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating for the company in a research report on Monday, December 16th. Wells Fargo & Company upped their price objective on 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 Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $147.54.

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.