OFI Invest Asset Management Acquires New Position in Phillips 66 (NYSE:PSX)

OFI Invest Asset Management acquired a new stake in Phillips 66 (NYSE:PSX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 210,589 shares of the oil and gas company’s stock, valued at approximately $23,170,000. OFI Invest Asset Management owned approximately 0.05% of Phillips 66 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Wealth LLC grew its stake in shares of Phillips 66 by 0.5% during the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock valued at $1,732,000 after buying an additional 81 shares during the last quarter. JBR Co Financial Management Inc grew its position in Phillips 66 by 0.9% during the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock worth $1,085,000 after acquiring an additional 85 shares during the last quarter. Nwam LLC grew its position in Phillips 66 by 2.2% during the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock worth $442,000 after acquiring an additional 85 shares during the last quarter. Webster Bank N. A. increased its stake in Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 88 shares during the period. Finally, PFG Private Wealth Management LLC lifted its position in Phillips 66 by 7.7% in the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock valued at $140,000 after purchasing an additional 88 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

PSX has been the topic of several analyst reports. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Mizuho cut their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, Wolfe Research raised 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Trading Up 3.0 %

Shares of NYSE:PSX opened at $126.51 on Friday. The stock’s 50-day simple moving average is $121.76 and its two-hundred day simple moving average is $126.31. The stock has a market capitalization of $51.58 billion, a price-to-earnings ratio of 25.61, a PEG ratio of 4.84 and a beta of 1.31. Phillips 66 has a 52-week low of $108.91 and a 52-week 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.

Phillips 66 (NYSE:PSX) last announced its earnings results 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 in the prior year, the business earned $3.09 EPS. Analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders 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 annualized dividend and a dividend yield of 3.64%. 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.