Tortoise Investment Management LLC Has $72,000 Holdings in Phillips 66 (NYSE:PSX)

Tortoise Investment Management LLC raised its position in Phillips 66 (NYSE:PSX) by 16.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 633 shares of the oil and gas company’s stock after buying an additional 88 shares during the period. Tortoise Investment Management LLC’s holdings in Phillips 66 were worth $72,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Independent Advisor Alliance boosted its position in Phillips 66 by 11.0% in the fourth quarter. Independent Advisor Alliance now owns 27,740 shares of the oil and gas company’s stock valued at $3,160,000 after buying an additional 2,755 shares in the last quarter. Gallagher Capital Advisors LLC acquired a new position in Phillips 66 in the fourth quarter valued at about $207,000. Daiwa Securities Group Inc. boosted its position in Phillips 66 by 10.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 68,752 shares of the oil and gas company’s stock valued at $7,833,000 after buying an additional 6,492 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Phillips 66 by 2.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 88,085 shares of the oil and gas company’s stock worth $10,036,000 after acquiring an additional 2,477 shares during the last quarter. Finally, Enterprise Financial Services Corp bought a new position in shares of Phillips 66 in the fourth quarter worth about $217,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research analyst reports. Barclays dropped their target price 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. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Mizuho dropped their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Stock Up 0.2 %

Shares of NYSE PSX opened at $126.41 on Tuesday. The stock has a market cap of $51.54 billion, a P/E ratio of 25.59, a P/E/G ratio of 4.84 and a beta of 1.31. The firm has a 50 day moving average price of $122.05 and a 200 day moving average price of $126.21. 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 52-week low of $108.91 and a 52-week high of $174.08.

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 (EPS) 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 quarter last year, the firm posted $3.09 EPS. Analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio is currently 93.12%.

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.