Phillips 66 (NYSE:PSX) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lifted its stake in Phillips 66 (NYSE:PSX - Free Report) by 145.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 20,018 shares of the oil and gas company's stock after acquiring an additional 11,855 shares during the quarter. Tower Research Capital LLC TRC's holdings in Phillips 66 were worth $2,281,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PSX. NewEdge Wealth LLC boosted its position in shares of Phillips 66 by 0.5% during the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock worth $1,732,000 after buying an additional 81 shares during the period. JBR Co Financial Management Inc boosted its holdings in Phillips 66 by 0.9% during the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company's stock valued at $1,085,000 after acquiring an additional 85 shares during the period. Nwam LLC grew its position in Phillips 66 by 2.2% in the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock valued at $442,000 after acquiring an additional 85 shares in the last quarter. Webster Bank N. A. increased its stake in Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 88 shares during the period. Finally, PFG Private Wealth Management LLC boosted its stake in shares of Phillips 66 by 7.7% in the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock valued at $140,000 after purchasing an additional 88 shares during the period. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Trading Up 3.9 %

NYSE PSX opened at $100.83 on Wednesday. The firm's fifty day moving average price is $117.31 and its 200 day moving average price is $121.80. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $159.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market capitalization of $41.08 billion, a price-to-earnings ratio of 20.41, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX - Get Free Report) last issued 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 period in the previous year, the business posted $3.09 EPS. On average, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $1.20 per share. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 4.76%. Phillips 66's payout ratio is 93.12%.

Wall Street Analyst Weigh In

PSX has been the topic of several recent research reports. Scotiabank cut their target price on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Barclays reduced their price objective on Phillips 66 from $135.00 to $106.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. StockNews.com cut Phillips 66 from a "hold" rating to a "sell" rating in a research note on Sunday, March 2nd. Mizuho reduced their price target on Phillips 66 from $140.00 to $132.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. Finally, Piper Sandler downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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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