Eudaimonia Partners LLC decreased its stake in shares of Phillips 66 (NYSE:PSX – Get Rating) by 32.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,081 shares of the oil and gas company’s stock after selling 979 shares during the period. Eudaimonia Partners LLC’s holdings in Phillips 66 were worth $217,000 as of its most recent filing with the SEC.
A number of other large investors have also recently bought and sold shares of PSX. Regal Investment Advisors LLC acquired a new position in shares of Phillips 66 during the third quarter valued at approximately $310,000. PFG Advisors boosted its stake in Phillips 66 by 42.4% in the 3rd quarter. PFG Advisors now owns 5,243 shares of the oil and gas company’s stock worth $423,000 after purchasing an additional 1,560 shares during the period. Intrua Financial LLC boosted its stake in shares of Phillips 66 by 20.5% during the 4th quarter. Intrua Financial LLC now owns 8,781 shares of the oil and gas company’s stock valued at $917,000 after buying an additional 1,492 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of Phillips 66 by 2.4% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,098,922 shares of the oil and gas company’s stock valued at $88,704,000 after buying an additional 25,603 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of Phillips 66 by 1,218.7% during the 3rd quarter. International Assets Investment Management LLC now owns 40,589 shares of the oil and gas company’s stock valued at $245,000 after buying an additional 37,511 shares during the period. Institutional investors own 70.76% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on PSX. Piper Sandler cut their price target on shares of Phillips 66 from $155.00 to $137.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. JPMorgan Chase & Co. boosted their price objective on shares of Phillips 66 from $112.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, March 28th. Raymond James lifted their target price on shares of Phillips 66 from $130.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, January 13th. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $134.00 to $127.00 and set an “overweight” rating on the stock in a research report on Thursday, January 5th. Finally, Mizuho dropped their target price on shares of Phillips 66 from $121.00 to $120.00 in a research note on Friday, March 10th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $121.80.
Insider Activity at Phillips 66
Phillips 66 Price Performance
Shares of NYSE:PSX opened at $101.38 on Monday. The company’s 50-day moving average is $101.31 and its 200 day moving average is $100.21. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.17 and a current ratio of 1.38. The company has a market capitalization of $47.03 billion, a P/E ratio of 4.42, a price-to-earnings-growth ratio of 0.34 and a beta of 1.37. Phillips 66 has a fifty-two week low of $74.02 and a fifty-two week high of $113.53.
Phillips 66 (NYSE:PSX – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The oil and gas company reported $4.00 earnings per share for the quarter, missing the consensus estimate of $4.35 by ($0.35). The company had revenue of $40.91 billion for the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a net margin of 6.27% and a return on equity of 31.20%. During the same quarter in the prior year, the company earned $2.94 earnings per share. On average, equities research analysts forecast that Phillips 66 will post 15.72 earnings per share for the current year.
Phillips 66 Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 21st were issued a $1.05 dividend. The ex-dividend date of this dividend was Friday, February 17th. This represents a $4.20 annualized dividend and a yield of 4.14%. This is a boost from Phillips 66’s previous quarterly dividend of $0.97. Phillips 66’s payout ratio is 18.30%.
About Phillips 66
Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.
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