Mattern Capital Management LLC Raises Position in Phillips 66 (NYSE:PSX)

Mattern Capital Management LLC lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 6.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,376 shares of the oil and gas company’s stock after acquiring an additional 5,510 shares during the quarter. Phillips 66 accounts for about 1.4% of Mattern Capital Management LLC’s holdings, making the stock its 12th largest position. Mattern Capital Management LLC’s holdings in Phillips 66 were worth $10,752,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PSX. Bogart Wealth LLC increased its position in shares of Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 120 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Phillips 66 during the third quarter valued at approximately $26,000. Stephens Consulting LLC increased its position in shares of Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 111 shares during the last quarter. Values First Advisors Inc. purchased a new stake in shares of Phillips 66 during the third quarter valued at approximately $30,000. Finally, Human Investing LLC purchased a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $30,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 1.3 %

PSX opened at $131.67 on Friday. The company has a market cap of $54.38 billion, a P/E ratio of 26.65, a P/E/G ratio of 4.78 and a beta of 1.37. The business’s 50-day moving average price is $119.05 and its 200-day moving average price is $127.13. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12 month low of $108.90 and a 12 month 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 analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the company posted $3.09 EPS. On average, equities analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a dividend of $1.15 per share. The ex-dividend date is Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.49%. Phillips 66’s payout ratio is 93.12%.

Analyst Ratings Changes

A number of brokerages recently commented on PSX. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, February 14th. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Mizuho reduced their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Finally, Barclays reduced their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

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.