SVB Wealth LLC purchased a new position in shares of Phillips 66 (NYSE:PSX - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 4,453 shares of the oil and gas company's stock, valued at approximately $507,000.
Several other institutional investors have also made changes to their positions in PSX. Mizuho Securities USA LLC boosted its stake in shares of Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company's stock worth $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. ING Groep NV raised its stake in shares of Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company's stock valued at $155,503,000 after acquiring an additional 653,032 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Phillips 66 by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company's stock worth $1,064,601,000 after purchasing an additional 639,323 shares during the last quarter. Bank of Montreal Can boosted its position in Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company's stock worth $214,120,000 after purchasing an additional 633,970 shares during the period. Finally, Mizuho Markets Americas LLC acquired a new position in Phillips 66 during the third quarter valued at approximately $70,983,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on the stock. Wells Fargo & Company boosted 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. StockNews.com lowered shares of Phillips 66 from a "hold" rating to a "sell" rating in a research report on Sunday. Mizuho lowered their price target on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. Piper Sandler cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Finally, Barclays lowered their target price on Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $148.00.
Get Our Latest Analysis on PSX
Shares of NYSE PSX opened at $122.48 on Wednesday. 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. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The business has a fifty day simple moving average of $121.11 and a 200 day simple moving average of $126.51. 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 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data 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 quarter last year, the firm posted $3.09 earnings per share. Sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66's payout ratio is 93.12%.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Phillips 66, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Phillips 66 wasn't on the list.
While Phillips 66 currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.