Phillips 66 (NYSE:PSX) is Adams Natural Resources Fund Inc.’s 10th Largest Position

Adams Natural Resources Fund Inc. raised its holdings in shares of Phillips 66 (NYSE:PSX) by 40.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 138,175 shares of the oil and gas company’s stock after buying an additional 39,600 shares during the quarter. Phillips 66 comprises about 2.5% of Adams Natural Resources Fund Inc.’s holdings, making the stock its 10th largest position. Adams Natural Resources Fund Inc.’s holdings in Phillips 66 were worth $15,742,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. grew its holdings in shares of Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after purchasing an additional 4,515 shares during the last quarter. Flavin Financial Services Inc. purchased a new stake in Phillips 66 in the fourth quarter worth about $1,190,000. Everence Capital Management Inc. bought a new position in Phillips 66 during the 4th quarter valued at approximately $3,033,000. Donoghue Forlines LLC purchased a new position in shares of Phillips 66 in the 4th quarter worth about $1,438,000. Finally, Smith Group Asset Management LLC bought a new position in shares of Phillips 66 in the fourth quarter worth approximately $1,149,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of PSX stock opened at $125.51 on Friday. The stock has a fifty day moving average price of $124.11 and a 200 day moving average price of $125.71. The stock has a market cap of $51.17 billion, a PE ratio of 25.41, a P/E/G ratio of 4.84 and a beta of 1.31. Phillips 66 has a 1 year low of $108.91 and a 1 year high of $174.08. 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 (NYSE:PSX) last issued its quarterly earnings results 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 return on equity of 8.58% and a net margin of 1.46%. During the same period in the previous year, the business posted $3.09 EPS. Sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $1.15 per share. 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 3.67%. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

Analysts Set New Price Targets

Several brokerages recently issued reports on PSX. Wolfe Research upgraded shares of 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. Barclays lifted their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Mizuho dropped their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.43.

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.