Phillips 66 (NYSE:PSX) Shares Bought by Saturna Capital Corp

Saturna Capital Corp lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 204.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,268 shares of the oil and gas company’s stock after purchasing an additional 3,539 shares during the quarter. Saturna Capital Corp’s holdings in Phillips 66 were worth $600,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PSX. CWA Asset Management Group LLC acquired a new position in shares of Phillips 66 in the third quarter worth $244,000. Assetmark Inc. grew its stake in Phillips 66 by 20.9% during the 3rd quarter. Assetmark Inc. now owns 2,692 shares of the oil and gas company’s stock worth $354,000 after purchasing an additional 466 shares in the last quarter. Covestor Ltd increased its holdings in Phillips 66 by 25.4% during the 3rd quarter. Covestor Ltd now owns 514 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 104 shares during the period. Sigma Planning Corp raised its position in Phillips 66 by 2.6% in the 3rd quarter. Sigma Planning Corp now owns 13,226 shares of the oil and gas company’s stock valued at $1,739,000 after purchasing an additional 340 shares in the last quarter. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Phillips 66 in the 3rd quarter valued at about $138,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays cut their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Mizuho dropped their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Finally, Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Trading Down 2.0 %

NYSE:PSX opened at $123.66 on Wednesday. The company has a market capitalization of $50.42 billion, a PE ratio of 25.03, a P/E/G ratio of 4.84 and a beta of 1.31. Phillips 66 has a 52-week low of $108.91 and a 52-week high of $174.08. The stock’s 50 day moving average price is $122.25 and its 200 day moving average price is $126.12. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) 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 analysts’ consensus estimates 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 in the previous year, the business earned $3.09 EPS. On average, research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.72%. Phillips 66’s dividend payout ratio is presently 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.