Phillips 66 (NYSE:PSX) Stake Raised by Geode Capital Management LLC

Geode Capital Management LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,530,242 shares of the oil and gas company’s stock after acquiring an additional 82,758 shares during the quarter. Geode Capital Management LLC owned 2.07% of Phillips 66 worth $968,844,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Point72 Hong Kong Ltd purchased a new stake in Phillips 66 in the 3rd quarter worth approximately $40,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Phillips 66 during the third quarter worth $292,000. Benjamin Edwards Inc. boosted its position in Phillips 66 by 557.0% during the third quarter. Benjamin Edwards Inc. now owns 30,072 shares of the oil and gas company’s stock valued at $3,954,000 after purchasing an additional 25,495 shares during the last quarter. Holocene Advisors LP purchased a new position in Phillips 66 in the third quarter valued at about $6,386,000. Finally, Janus Henderson Group PLC increased its position in Phillips 66 by 359.5% in the 3rd quarter. Janus Henderson Group PLC now owns 228,165 shares of the oil and gas company’s stock worth $29,992,000 after purchasing an additional 178,515 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

PSX opened at $124.11 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average price is $125.02 and its two-hundred day moving average price is $125.48. The firm has a market capitalization of $50.60 billion, a P/E ratio of 25.12, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. Phillips 66 has a 12-month low of $108.91 and a 12-month high of $174.08.

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, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Analyst Ratings Changes

Several brokerages have recently issued reports on PSX. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Mizuho decreased 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 report on Monday, December 16th. Wells Fargo & Company raised their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. Finally, The Goldman Sachs Group downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $146.43.

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.