Phillips 66 (NYSE:PSX) Shares Purchased by Jacobi Capital Management LLC

Jacobi Capital Management LLC boosted its position in Phillips 66 (NYSE:PSX) by 7.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,076 shares of the oil and gas company’s stock after purchasing an additional 736 shares during the period. Jacobi Capital Management LLC’s holdings in Phillips 66 were worth $1,262,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Bogart Wealth LLC increased its holdings in Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 120 shares in the last quarter. Stephens Consulting LLC increased its holdings in Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 111 shares in the last quarter. Human Investing LLC purchased a new position in Phillips 66 in the fourth quarter valued at about $30,000. Webster Bank N. A. increased its holdings in Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 88 shares in the last quarter. Finally, YANKCOM Partnership purchased a new position in Phillips 66 in the fourth quarter valued at about $31,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research analyst reports. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday. Wells Fargo & Company raised their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, UBS Group dropped their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Stock Up 1.9 %

PSX stock opened at $129.81 on Friday. The stock has a market capitalization of $52.92 billion, a P/E ratio of 26.28, a PEG ratio of 4.84 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company has a 50 day moving average price of $120.60 and a two-hundred day moving average price of $126.80.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) 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 in the previous year, the firm earned $3.09 earnings per share. As a group, sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a $1.15 dividend. The ex-dividend date is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.54%. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

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.