Schroder Investment Management Group Has $6.10 Million Stake in Phillips 66 (NYSE:PSX)

Schroder Investment Management Group reduced its position in shares of Phillips 66 (NYSE:PSX) by 72.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,505 shares of the oil and gas company’s stock after selling 139,861 shares during the period. Schroder Investment Management Group’s holdings in Phillips 66 were worth $6,104,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Phillips 66 during the fourth quarter worth $497,648,000. Raymond James Financial Inc. bought a new position in Phillips 66 during the fourth quarter worth about $168,790,000. Amundi raised its stake in Phillips 66 by 25.7% in the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after purchasing an additional 753,653 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Phillips 66 by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock valued at $1,064,601,000 after purchasing an additional 639,323 shares during the period. Finally, Weiss Asset Management LP acquired a new position in shares of Phillips 66 during the 3rd quarter worth approximately $34,042,000. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PSX has been the subject of a number of analyst reports. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research 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 report on Monday, December 16th. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Barclays boosted their price target on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Finally, Wells Fargo & Company raised their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $146.43.

Phillips 66 Price Performance

PSX stock opened at $98.65 on Friday. The stock has a market cap of $40.22 billion, a price-to-earnings ratio of 19.97, a P/E/G ratio of 4.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a 50 day simple moving average of $124.24 and a 200 day simple moving average of $125.15. Phillips 66 has a 1 year low of $95.67 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the company earned $3.09 EPS. Research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 4.66%. Phillips 66’s dividend payout ratio is presently 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.