Phillips 66 (NYSE:PSX) Shares Bought by Nicholson Wealth Management Group LLC

Nicholson Wealth Management Group LLC grew its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 133.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,912 shares of the oil and gas company's stock after acquiring an additional 6,802 shares during the period. Nicholson Wealth Management Group LLC's holdings in Phillips 66 were worth $1,357,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mizuho Securities USA LLC grew its stake in Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company's stock worth $328,625,000 after purchasing an additional 2,467,316 shares in the last quarter. ING Groep NV lifted its holdings in Phillips 66 by 123.2% during the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company's stock worth $155,503,000 after buying an additional 653,032 shares during the last quarter. Bank of Montreal Can grew its position in shares of Phillips 66 by 63.4% in the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company's stock worth $214,120,000 after acquiring an additional 633,970 shares in the last quarter. Mizuho Markets Americas LLC acquired a new position in shares of Phillips 66 in the 3rd quarter worth approximately $70,983,000. Finally, Assenagon Asset Management S.A. lifted its stake in Phillips 66 by 73.2% during the third quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company's stock worth $96,294,000 after purchasing an additional 309,507 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Performance

Shares of PSX traded down $0.33 during trading hours on Tuesday, reaching $126.75. 1,426,491 shares of the company's stock traded hands, compared to its average volume of 3,577,984. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The business's fifty day simple moving average is $119.39 and its two-hundred day simple moving average is $126.97. 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 firm has a market capitalization of $52.35 billion, a price-to-earnings ratio of 25.54, a P/E/G ratio of 4.84 and a beta of 1.37.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results 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 net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the firm posted $3.09 EPS. Analysts predict 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 will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date is Monday, February 24th. Phillips 66's payout ratio is currently 93.12%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PSX. Piper Sandler cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. Mizuho cut their target price on shares of Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a report on Monday, December 16th. Wolfe Research raised 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. UBS Group dropped their price target on Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. Finally, Barclays reduced their price objective on Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating for the company in a research report on Monday, January 13th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $148.00.

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.