Phillips 66 (NYSE:PSX) Shares Acquired by Allworth Financial LP

Allworth Financial LP lifted its position in Phillips 66 (NYSE:PSX) by 19.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,262 shares of the oil and gas company’s stock after acquiring an additional 2,484 shares during the period. Allworth Financial LP’s holdings in Phillips 66 were worth $1,809,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp boosted its stake in Phillips 66 by 263.3% during the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after purchasing an additional 60,355 shares during the last quarter. Flavin Financial Services Inc. purchased a new position in shares of Phillips 66 in the fourth quarter worth about $1,190,000. Everence Capital Management Inc. acquired a new position in Phillips 66 during the fourth quarter worth about $3,033,000. Donoghue Forlines LLC acquired a new position in Phillips 66 during the fourth quarter worth about $1,438,000. Finally, Mizuho Securities USA LLC grew its stake in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Up 1.9 %

Phillips 66 stock opened at $130.51 on Wednesday. The company has a market capitalization of $53.90 billion, a PE ratio of 26.42, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. 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 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The firm has a 50 day moving average price of $118.70 and a 200 day moving average price of $127.10.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data 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 net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the firm earned $3.09 earnings per share. Research analysts expect that Phillips 66 will post 7.14 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.52%. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on PSX shares. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Mizuho cut their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, February 14th. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Barclays dropped their price target 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. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.00.

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.