Phillips 66 (NYSE:PSX) Shares Bought by First Horizon Advisors Inc.

First Horizon Advisors Inc. grew its position in Phillips 66 (NYSE:PSX) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,974 shares of the oil and gas company’s stock after acquiring an additional 148 shares during the period. First Horizon Advisors Inc.’s holdings in Phillips 66 were worth $339,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Pinnacle Financial Partners Inc raised its holdings in Phillips 66 by 11.0% in the 4th quarter. Pinnacle Financial Partners Inc now owns 6,413 shares of the oil and gas company’s stock worth $749,000 after purchasing an additional 637 shares during the period. Navellier & Associates Inc. increased its position in shares of Phillips 66 by 10.6% in the fourth quarter. Navellier & Associates Inc. now owns 52,830 shares of the oil and gas company’s stock valued at $6,019,000 after buying an additional 5,071 shares in the last quarter. Bell Bank raised its stake in shares of Phillips 66 by 11.5% during the 4th quarter. Bell Bank now owns 2,644 shares of the oil and gas company’s stock worth $301,000 after buying an additional 272 shares during the period. Boyd Watterson Asset Management LLC OH lifted its position in shares of Phillips 66 by 2.3% during the 4th quarter. Boyd Watterson Asset Management LLC OH now owns 11,359 shares of the oil and gas company’s stock valued at $1,294,000 after buying an additional 250 shares in the last quarter. Finally, Compass Capital Corp MA ADV acquired a new stake in Phillips 66 in the 4th quarter valued at $327,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSX has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Barclays lowered their price objective 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. Mizuho reduced their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Finally, StockNews.com raised Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Stock Down 0.7 %

Shares of NYSE:PSX opened at $126.21 on Wednesday. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The stock has a market cap of $52.12 billion, a P/E ratio of 25.55, a PEG ratio of 4.84 and a beta of 1.37. The business has a fifty day moving average of $119.60 and a two-hundred day moving average of $126.91. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) 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 in the previous year, the business posted $3.09 earnings per share. On average, research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.64%. Phillips 66’s dividend 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.