Nemes Rush Group LLC Purchases 483 Shares of Phillips 66 (NYSE:PSX)

Nemes Rush Group LLC lifted its holdings in Phillips 66 (NYSE:PSX) by 29.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,104 shares of the oil and gas company’s stock after purchasing an additional 483 shares during the period. Nemes Rush Group LLC’s holdings in Phillips 66 were worth $240,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

PSX has been the subject of several analyst reports. Barclays increased their target price on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Wells Fargo & Company increased their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Mizuho lowered their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $146.43.

Phillips 66 Trading Up 0.7 %

PSX stock opened at $124.38 on Wednesday. The firm has a market cap of $50.71 billion, a PE ratio of 25.18, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The firm has a fifty day moving average price of $124.90 and a 200 day moving average price of $125.49. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 prior year, the company earned $3.09 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.70%. Phillips 66’s dividend payout ratio (DPR) is presently 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.