Phillips 66 (NYSE:PSX) Stock Position Lifted by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC boosted its stake in shares of Phillips 66 (NYSE:PSX) by 0.8% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,574 shares of the oil and gas company’s stock after purchasing an additional 143 shares during the period. HBK Sorce Advisory LLC’s holdings in Phillips 66 were worth $2,002,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Assetmark Inc. grew its position in Phillips 66 by 20.9% during the third quarter. Assetmark Inc. now owns 2,692 shares of the oil and gas company’s stock valued at $354,000 after purchasing an additional 466 shares in the last quarter. Covestor Ltd grew its position in Phillips 66 by 25.4% during the third quarter. Covestor Ltd now owns 514 shares of the oil and gas company’s stock valued at $68,000 after purchasing an additional 104 shares in the last quarter. GSA Capital Partners LLP purchased a new position in Phillips 66 during the third quarter valued at approximately $817,000. OVERSEA CHINESE BANKING Corp Ltd grew its position in Phillips 66 by 28.6% during the third quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 2,143 shares of the oil and gas company’s stock valued at $282,000 after purchasing an additional 477 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in Phillips 66 by 27.6% during the third quarter. Victory Capital Management Inc. now owns 625,290 shares of the oil and gas company’s stock valued at $82,194,000 after purchasing an additional 135,142 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PSX shares. Barclays reduced their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Mizuho reduced their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, Wolfe Research upgraded 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 research note on Friday, January 3rd. One investment 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $122.42 on Friday. The firm has a fifty day simple moving average of $122.61 and a 200-day simple moving average of $126.08. 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 1-year low of $108.91 and a 1-year high of $174.08. The stock has a market capitalization of $49.91 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 4.84 and a beta of 1.31.

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 net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the firm earned $3.09 EPS. On average, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.76%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is currently 93.12%.

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.