Phillips 66 (NYSE:PSX) Stake Raised by American Assets Investment Management LLC

American Assets Investment Management LLC grew its holdings in shares of Phillips 66 (NYSE:PSX) by 2.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 130,800 shares of the oil and gas company’s stock after buying an additional 3,000 shares during the period. Phillips 66 accounts for about 1.2% of American Assets Investment Management LLC’s investment portfolio, making the stock its 15th biggest holding. American Assets Investment Management LLC’s holdings in Phillips 66 were worth $14,902,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PSX. Retirement Planning Co of New England Inc. raised its holdings in Phillips 66 by 5.5% during the fourth quarter. Retirement Planning Co of New England Inc. now owns 6,206 shares of the oil and gas company’s stock worth $707,000 after purchasing an additional 322 shares in the last quarter. Mystic Asset Management Inc. raised its holdings in Phillips 66 by 17.8% during the fourth quarter. Mystic Asset Management Inc. now owns 8,236 shares of the oil and gas company’s stock worth $938,000 after purchasing an additional 1,247 shares in the last quarter. Flagship Wealth Advisors LLC bought a new stake in Phillips 66 during the fourth quarter worth approximately $57,000. Cozad Asset Management Inc. raised its holdings in Phillips 66 by 2.8% during the fourth quarter. Cozad Asset Management Inc. now owns 38,320 shares of the oil and gas company’s stock worth $4,366,000 after purchasing an additional 1,037 shares in the last quarter. Finally, TCTC Holdings LLC raised its holdings in Phillips 66 by 0.8% during the fourth quarter. TCTC Holdings LLC now owns 161,425 shares of the oil and gas company’s stock worth $18,391,000 after purchasing an additional 1,302 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on PSX. Barclays boosted their target price on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Mizuho decreased their price target 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. Finally, Wells Fargo & Company lifted their price target 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $149.43.

Phillips 66 Trading Up 2.0 %

NYSE PSX opened at $129.27 on Tuesday. Phillips 66 has a twelve month low of $108.91 and a twelve month high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a market cap of $52.70 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 4.84 and a beta of 1.31. The firm’s 50 day moving average price is $123.11 and its two-hundred day moving average price is $125.85.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the previous year, the firm earned $3.09 EPS. Equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.56%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

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.