Alliancebernstein L.P. Has $121 Million Holdings in Phillips 66 (NYSE:PSX)

Alliancebernstein L.P. raised its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,062,016 shares of the oil and gas company's stock after purchasing an additional 12,544 shares during the period. Alliancebernstein L.P. owned 0.26% of Phillips 66 worth $120,995,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp raised its holdings in Phillips 66 by 7.3% in 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 during the period. Norges Bank bought a new position in shares of Phillips 66 in the fourth quarter worth about $497,648,000. Amundi increased its stake in shares of 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 purchasing an additional 753,653 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Phillips 66 by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,002,995 shares of the oil and gas company's stock worth $342,131,000 after purchasing an additional 101,108 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Phillips 66 in the 4th quarter valued at approximately $168,790,000. Institutional investors own 76.93% of the company's stock.

Phillips 66 Price Performance

Shares of NYSE:PSX traded down $8.53 on Friday, hitting $98.65. The stock had a trading volume of 6,420,619 shares, compared to its average volume of 2,807,133. The company has a market capitalization of $40.22 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. 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's 50 day moving average price is $124.24 and its 200-day moving average price is $125.15. Phillips 66 has a twelve month low of $95.67 and a twelve month high of $174.08.

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Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts' consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the business earned $3.09 earnings per share. On average, equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 4.66%. Phillips 66's dividend payout ratio is 93.12%.

Analysts Set New Price Targets

PSX has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Piper Sandler downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. Barclays boosted their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. StockNews.com cut shares of Phillips 66 from a "hold" rating to a "sell" rating in a research note on Sunday, March 2nd. Finally, Wolfe Research upgraded Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $146.43.

Phillips 66 Company 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.