Gamco Investors INC. ET AL cut its position in Phillips 66 (NYSE:PSX – Get Rating) by 17.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,233 shares of the oil and gas company’s stock after selling 1,089 shares during the period. Gamco Investors INC. ET AL’s holdings in Phillips 66 were worth $545,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently modified their holdings of the company. Wealthcare Advisory Partners LLC boosted its holdings in shares of Phillips 66 by 48.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 5,479 shares of the oil and gas company’s stock valued at $570,000 after buying an additional 1,777 shares in the last quarter. BOKF NA boosted its holdings in shares of Phillips 66 by 0.6% in the 4th quarter. BOKF NA now owns 195,604 shares of the oil and gas company’s stock valued at $20,359,000 after buying an additional 1,187 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in shares of Phillips 66 by 26.9% in the 4th quarter. CIBC Asset Management Inc now owns 84,569 shares of the oil and gas company’s stock valued at $8,802,000 after buying an additional 17,937 shares in the last quarter. Schechter Investment Advisors LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at $213,000. Finally, Natixis boosted its holdings in shares of Phillips 66 by 75.6% in the 4th quarter. Natixis now owns 564,386 shares of the oil and gas company’s stock valued at $58,741,000 after buying an additional 242,937 shares in the last quarter. 70.76% of the stock is owned by hedge funds and other institutional investors.
Phillips 66 Stock Performance
Shares of PSX opened at $98.76 on Friday. The company has a 50-day simple moving average of $98.11 and a 200-day simple moving average of $100.94. The company has a quick ratio of 1.17, a current ratio of 1.54 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $45.32 billion, a PE ratio of 3.82, a P/E/G ratio of 0.37 and a beta of 1.38. Phillips 66 has a 52-week low of $74.02 and a 52-week high of $113.53.
Phillips 66 Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, June 1st. Stockholders of record on Monday, May 22nd were issued a $1.05 dividend. The ex-dividend date was Friday, May 19th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 4.25%. Phillips 66’s dividend payout ratio is presently 16.24%.
Analyst Ratings Changes
PSX has been the subject of several research analyst reports. TD Cowen upgraded shares of Phillips 66 from a “market perform” rating to an “outperform” rating and upped their target price for the company from $110.00 to $123.00 in a report on Thursday, June 1st. The Goldman Sachs Group decreased their price target on shares of Phillips 66 from $124.00 to $119.00 in a research note on Friday, May 12th. JPMorgan Chase & Co. increased their price target on shares of Phillips 66 from $112.00 to $120.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 28th. Piper Sandler decreased their price target on shares of Phillips 66 from $141.00 to $127.00 in a research note on Thursday, May 18th. Finally, StockNews.com upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Thursday, June 1st. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $121.07.
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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