First Merchants Corp Has $1.89 Million Stake in Phillips 66 (NYSE:PSX)

First Merchants Corp grew its holdings in Phillips 66 (NYSE:PSX) by 5.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,580 shares of the oil and gas company’s stock after purchasing an additional 784 shares during the quarter. First Merchants Corp’s holdings in Phillips 66 were worth $1,889,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of PSX. Exchange Traded Concepts LLC grew its holdings in Phillips 66 by 22.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,483 shares of the oil and gas company’s stock worth $721,000 after acquiring an additional 1,014 shares during the last quarter. Vontobel Holding Ltd. lifted its position in shares of Phillips 66 by 171.3% during the third quarter. Vontobel Holding Ltd. now owns 31,424 shares of the oil and gas company’s stock worth $4,131,000 after purchasing an additional 19,842 shares in the last quarter. SPC Financial Inc. lifted its position in shares of Phillips 66 by 5.1% during the third quarter. SPC Financial Inc. now owns 2,094 shares of the oil and gas company’s stock worth $275,000 after purchasing an additional 102 shares in the last quarter. ZWJ Investment Counsel Inc. grew its stake in shares of Phillips 66 by 2.1% during the third quarter. ZWJ Investment Counsel Inc. now owns 247,967 shares of the oil and gas company’s stock valued at $32,595,000 after purchasing an additional 5,072 shares during the last quarter. Finally, Probity Advisors Inc. increased its holdings in shares of Phillips 66 by 2.3% in the third quarter. Probity Advisors Inc. now owns 4,786 shares of the oil and gas company’s stock valued at $629,000 after purchasing an additional 108 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.5 %

Shares of NYSE:PSX opened at $125.70 on Friday. The company has a 50 day moving average price of $118.83 and a two-hundred day moving average price of $127.55. 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 company has a market capitalization of $51.91 billion, a PE ratio of 25.44, a PEG ratio of 5.64 and a beta of 1.37. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) 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 prior year, the firm posted $3.09 earnings per share. Analysts forecast that Phillips 66 will post 7.14 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s dividend payout ratio is currently 93.12%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Mizuho reduced 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. UBS Group cut their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Wells Fargo & Company boosted their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

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.