Allstate Corp Invests $1.42 Million in Phillips 66 (NYSE:PSX)

Allstate Corp bought a new stake in Phillips 66 (NYSE:PSX) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 12,429 shares of the oil and gas company’s stock, valued at approximately $1,416,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. DnB Asset Management AS raised its holdings in shares of Phillips 66 by 26.0% in the 4th quarter. DnB Asset Management AS now owns 2,222 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 458 shares in the last quarter. Level Four Advisory Services LLC raised its stake in Phillips 66 by 2.3% in the fourth quarter. Level Four Advisory Services LLC now owns 37,458 shares of the oil and gas company’s stock valued at $4,268,000 after buying an additional 827 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in Phillips 66 by 3.1% in the fourth quarter. Orion Portfolio Solutions LLC now owns 19,117 shares of the oil and gas company’s stock valued at $2,178,000 after buying an additional 575 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in Phillips 66 by 4.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 255,280 shares of the oil and gas company’s stock worth $29,084,000 after buying an additional 11,612 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth about $982,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. The Goldman Sachs Group downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a research report on Thursday. Wells Fargo & Company increased their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research 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 target for the company in a research report on Friday, January 3rd. Finally, Mizuho dropped their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $146.43.

Phillips 66 Trading Down 2.4 %

Shares of PSX stock opened at $121.67 on Monday. The company has a market capitalization of $49.60 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $124.76 and its two-hundred day moving average is $125.52. Phillips 66 has a twelve month low of $108.91 and a twelve month high of $174.08.

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 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 earnings per share. Equities analysts forecast 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. Investors of record on Monday, February 24th were given a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.78%. Phillips 66’s payout ratio is currently 93.12%.

Phillips 66 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.