SVB Wealth LLC Acquires Shares of 4,453 Phillips 66 (NYSE:PSX)

SVB Wealth LLC bought a new position in Phillips 66 (NYSE:PSX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,453 shares of the oil and gas company’s stock, valued at approximately $507,000.

A number of other hedge funds have also made changes to their positions in PSX. Farther Finance Advisors LLC raised its position in Phillips 66 by 4.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 7,957 shares of the oil and gas company’s stock valued at $1,046,000 after purchasing an additional 354 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Phillips 66 by 263.3% in the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after buying an additional 60,355 shares in the last quarter. KG&L Capital Management LLC acquired a new position in Phillips 66 during the 3rd quarter worth about $287,000. National Pension Service lifted its position in Phillips 66 by 6.8% during the 3rd quarter. National Pension Service now owns 1,001,734 shares of the oil and gas company’s stock worth $131,678,000 after buying an additional 63,349 shares in the last quarter. Finally, Radnor Capital Management LLC bought a new stake in Phillips 66 during the 3rd quarter worth about $282,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Down 2.0 %

Phillips 66 stock opened at $122.48 on Wednesday. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm has a market capitalization of $49.93 billion, a price-to-earnings ratio of 24.79, a PEG ratio of 4.84 and a beta of 1.37. The company’s 50 day simple moving average is $121.11 and its 200 day simple moving average is $126.51.

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

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PSX shares. Mizuho reduced their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Barclays decreased their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company lifted their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. 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 company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

About Phillips 66

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.