Pictet Asset Management Holding SA Purchases 11,612 Shares of Phillips 66 (NYSE:PSX)

Pictet Asset Management Holding SA grew its holdings in Phillips 66 (NYSE:PSX - Free Report) by 4.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 255,280 shares of the oil and gas company's stock after acquiring an additional 11,612 shares during the quarter. Pictet Asset Management Holding SA owned 0.06% of Phillips 66 worth $29,084,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. CreativeOne Wealth LLC increased its holdings in shares of Phillips 66 by 43.9% during the 3rd quarter. CreativeOne Wealth LLC now owns 3,697 shares of the oil and gas company's stock worth $486,000 after purchasing an additional 1,128 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Phillips 66 by 4.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 85,608 shares of the oil and gas company's stock worth $11,253,000 after buying an additional 3,889 shares in the last quarter. Vinva Investment Management Ltd bought a new position in Phillips 66 during the third quarter valued at about $700,000. Cobblestone Capital Advisors LLC NY raised its holdings in Phillips 66 by 0.5% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company's stock valued at $2,307,000 after acquiring an additional 89 shares in the last quarter. Finally, B&L Asset Management LLC bought a new stake in shares of Phillips 66 in the 3rd quarter worth approximately $354,000. Institutional investors and hedge funds own 76.93% of the company's stock.

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Phillips 66 Trading Up 0.7 %

Shares of NYSE PSX traded up $0.90 during midday trading on Tuesday, hitting $124.38. The stock had a trading volume of 2,000,871 shares, compared to its average volume of 2,781,506. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08. The firm has a market cap of $50.71 billion, a P/E ratio of 25.18, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The company's 50-day simple moving average is $124.90 and its 200 day simple moving average is $125.49.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly 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 return on equity of 8.58% and a net margin of 1.46%. During the same quarter last year, the firm posted $3.09 EPS. Research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business 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 was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.70%. Phillips 66's dividend payout ratio is presently 93.12%.

Analyst Ratings Changes

PSX has been the topic of a number of research reports. Piper Sandler cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. The Goldman Sachs Group downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective for the company. in a report on Thursday, March 27th. Wolfe Research raised shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. Wells Fargo & Company upped their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Barclays boosted their price target on Phillips 66 from $115.00 to $135.00 and gave the company an "equal weight" rating in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.