Gabelli Funds LLC Grows Holdings in Phillips 66 (NYSE:PSX)

Gabelli Funds LLC increased its stake in Phillips 66 (NYSE:PSX) by 22.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 151,300 shares of the oil and gas company’s stock after buying an additional 27,500 shares during the period. Gabelli Funds LLC’s holdings in Phillips 66 were worth $17,238,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. increased its holdings in shares of Phillips 66 by 10.6% in the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after acquiring an additional 4,515 shares during the last quarter. Flavin Financial Services Inc. acquired a new stake in shares of Phillips 66 during the fourth quarter worth $1,190,000. Everence Capital Management Inc. bought a new position in shares of Phillips 66 in the 4th quarter worth about $3,033,000. Donoghue Forlines LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at about $1,438,000. Finally, Smith Group Asset Management LLC bought a new stake in shares of Phillips 66 during the 4th quarter valued at about $1,149,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PSX shares. Mizuho dropped their price target on Phillips 66 from $140.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 9th. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. The Goldman Sachs Group downgraded Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a research report on Thursday, March 27th. Finally, Barclays cut their target price on Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $142.00.

Phillips 66 Trading Down 1.7 %

Shares of NYSE:PSX opened at $96.20 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a market capitalization of $39.20 billion, a price-to-earnings ratio of 19.47, a PEG ratio of 4.84 and a beta of 1.17. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $161.13. The company has a 50 day moving average price of $119.96 and a 200 day moving average price of $123.08.

Phillips 66 (NYSE:PSX) last issued 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 period last year, the firm earned $3.09 earnings per share. On average, research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 4.78%. Phillips 66’s 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.