Phillips 66 (NYSE:PSX) Shares Bought by Fayez Sarofim & Co

Fayez Sarofim & Co lifted its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 706,688 shares of the oil and gas company's stock after buying an additional 16,784 shares during the period. Fayez Sarofim & Co owned about 0.17% of Phillips 66 worth $80,513,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PSX shares. Piper Sandler lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Scotiabank lowered their target price on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. Raymond James reduced their price objective on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Barclays dropped their price objective on Phillips 66 from $135.00 to $106.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Finally, Mizuho decreased their price objective on Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $142.00.

Phillips 66 Trading Up 1.9 %

Shares of NYSE PSX traded up $1.90 during midday trading on Wednesday, reaching $102.80. 3,055,099 shares of the stock were exchanged, compared to its average volume of 2,901,841. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $41.88 billion, a P/E ratio of 20.81, a P/E/G ratio of 4.84 and a beta of 1.17. The stock has a 50 day moving average price of $116.80 and a 200-day moving average price of $121.67. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $158.38.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data 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 in the previous year, the company earned $3.09 EPS. Equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date of this dividend is Monday, May 19th. This is an increase from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio is currently 93.12%.

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.