Geode Capital Management LLC Buys 82,758 Shares of Phillips 66 (NYSE:PSX)

Geode Capital Management LLC grew its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,530,242 shares of the oil and gas company's stock after purchasing an additional 82,758 shares during the period. Geode Capital Management LLC owned about 2.07% of Phillips 66 worth $968,844,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Oppenheimer & Co. Inc. grew its holdings in shares of Phillips 66 by 10.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company's stock worth $5,349,000 after purchasing an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. bought a new stake in Phillips 66 during the fourth quarter worth about $1,190,000. Everence Capital Management Inc. bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $3,033,000. Donoghue Forlines LLC bought a new position in shares of Phillips 66 during the fourth quarter worth approximately $1,438,000. Finally, Smith Group Asset Management LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $1,149,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PSX. StockNews.com cut shares of Phillips 66 from a "hold" rating to a "sell" rating in a research note on Sunday, March 2nd. Wells Fargo & Company boosted their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Barclays lifted their price objective on Phillips 66 from $115.00 to $135.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. Piper Sandler cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Finally, The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price on the stock. in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $146.43.

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Phillips 66 Stock Down 8.0 %

Shares of PSX stock traded down $8.53 during mid-day trading on Friday, reaching $98.65. 6,420,619 shares of the company were exchanged, compared to its average volume of 2,807,133. The business's 50 day simple moving average is $124.24 and its 200 day simple moving average is $125.15. Phillips 66 has a fifty-two week low of $95.67 and a fifty-two week high of $174.08. The company has a market capitalization of $40.22 billion, a P/E ratio of 19.97, a P/E/G 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.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results 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 net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the company earned $3.09 EPS. 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 disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 4.66%. Phillips 66's dividend payout ratio is currently 93.12%.

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.