Oppenheimer & Co. Inc. Acquires 4,515 Shares of Phillips 66 (NYSE:PSX)

Oppenheimer & Co. Inc. grew its position in Phillips 66 (NYSE:PSX - Free Report) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,953 shares of the oil and gas company's stock after buying an additional 4,515 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in Phillips 66 were worth $5,349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. K.J. Harrison & Partners Inc purchased a new position in shares of Phillips 66 during the 4th quarter worth $229,000. Apriem Advisors lifted its position in Phillips 66 by 9.7% during the fourth quarter. Apriem Advisors now owns 2,368 shares of the oil and gas company's stock worth $270,000 after buying an additional 210 shares during the period. Nwam LLC increased its stake in shares of Phillips 66 by 2.2% during 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 during the last quarter. Heritage Investors Management Corp lifted its holdings in shares of Phillips 66 by 0.8% during the 4th quarter. Heritage Investors Management Corp now owns 82,381 shares of the oil and gas company's stock worth $9,386,000 after acquiring an additional 682 shares during the period. Finally, Whipplewood Advisors LLC acquired a new stake in shares of Phillips 66 in the fourth quarter worth approximately $46,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Stock Down 3.6 %

PSX stock traded down $4.66 during trading hours on Monday, hitting $125.03. The company's stock had a trading volume of 6,054,940 shares, compared to its average volume of 3,714,182. The company has a market capitalization of $50.97 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37. The stock has a 50 day moving average price of $120.89 and a two-hundred day moving average price of $126.63. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates 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 last year, the firm posted $3.09 earnings per share. On average, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a $1.15 dividend. The ex-dividend date is Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.68%. Phillips 66's dividend payout ratio (DPR) is currently 93.12%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PSX. Wolfe Research upgraded Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 target price for the company in a report on Friday, January 3rd. StockNews.com downgraded shares of Phillips 66 from a "hold" rating to a "sell" rating in a research note on Sunday. Mizuho decreased their price target on shares of Phillips 66 from $150.00 to $147.00 and set a "neutral" rating for the company in a research report on Monday, December 16th. Barclays decreased their target price on shares of Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Finally, Piper Sandler downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $148.00.

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.