Phillips 66 (NYSE:PSX) Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. lifted its stake in Phillips 66 (NYSE:PSX - Free Report) by 9.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 377,406 shares of the oil and gas company's stock after acquiring an additional 31,441 shares during the period. Russell Investments Group Ltd. owned 0.09% of Phillips 66 worth $42,955,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PSX. Oppenheimer & Co. Inc. increased its position in 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 valued at $5,349,000 after buying an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. acquired a new position in shares of Phillips 66 in the 4th quarter valued at $1,190,000. Everence Capital Management Inc. acquired a new position in shares of Phillips 66 in the fourth quarter worth about $3,033,000. Donoghue Forlines LLC acquired a new position in Phillips 66 in the 4th quarter worth about $1,438,000. Finally, Smith Group Asset Management LLC purchased a new position in shares of Phillips 66 during the 4th quarter valued at approximately $1,149,000. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Barclays dropped their price target on shares of Phillips 66 from $135.00 to $106.00 and set an "equal weight" rating for the company in a research note on Thursday. Piper Sandler downgraded 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 target price for the company. in a report on Thursday, March 27th. Finally, StockNews.com lowered shares of Phillips 66 from a "hold" rating to a "sell" rating in a research note on Sunday, March 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $142.00.

Phillips 66 Stock Up 0.2 %

Shares of NYSE PSX traded up $0.24 during midday trading on Friday, hitting $97.23. 3,571,986 shares of the company's stock were exchanged, compared to its average volume of 2,887,199. The company has a market cap of $39.64 billion, a PE ratio of 19.68, a P/E/G ratio of 4.84 and a beta of 1.17. 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 twelve month low of $91.01 and a twelve month high of $165.00. The firm's fifty day simple moving average is $120.96 and its 200-day simple moving average is $123.50.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 period in the previous year, the company earned $3.09 earnings per share. Research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 4.73%. Phillips 66's dividend payout ratio (DPR) is 93.12%.

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.