Groupama Asset Managment Has $2.44 Million Stock Position in Phillips 66 (NYSE:PSX)

Groupama Asset Managment raised its holdings in Phillips 66 (NYSE:PSX) by 108.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,800 shares of the oil and gas company’s stock after purchasing an additional 11,360 shares during the quarter. Groupama Asset Managment’s holdings in Phillips 66 were worth $2,441,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oppenheimer & Co. Inc. grew its position in Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after acquiring an additional 4,515 shares during the last quarter. Flavin Financial Services Inc. bought a new stake in shares of Phillips 66 during the 4th quarter valued at approximately $1,190,000. Everence Capital Management Inc. acquired a new position in Phillips 66 during the 4th quarter worth approximately $3,033,000. Donoghue Forlines LLC bought a new position in Phillips 66 in the 4th quarter valued at approximately $1,438,000. Finally, Smith Group Asset Management LLC acquired a new stake in Phillips 66 in the fourth quarter valued at approximately $1,149,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on PSX shares. Barclays increased their price target on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. Wells Fargo & Company boosted their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Mizuho dropped their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Finally, Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $146.43.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $124.38 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $50.71 billion, a PE ratio of 25.18, a P/E/G ratio of 4.84 and a beta of 1.31. The firm has a fifty day simple moving average of $124.90 and a 200 day simple moving average of $125.49. Phillips 66 has a twelve month low of $108.91 and a twelve month high of $174.08.

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 period in the prior year, the business earned $3.09 earnings per share. On average, sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is 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.