Bank of New York Mellon Corp Purchases 639,323 Shares of Phillips 66 (NYSE:PSX)

Bank of New York Mellon Corp increased its position in shares of Phillips 66 (NYSE:PSX) by 7.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,344,342 shares of the oil and gas company’s stock after buying an additional 639,323 shares during the period. Bank of New York Mellon Corp’s holdings in Phillips 66 were worth $1,064,601,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of PSX. JBR Co Financial Management Inc grew its holdings 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 period. Webster Bank N. A. boosted its position in shares of Phillips 66 by 48.4% during the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 88 shares in the last quarter. Cobblestone Capital Advisors LLC NY grew its stake in Phillips 66 by 0.5% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock worth $2,307,000 after purchasing an additional 89 shares during the period. Avestar Capital LLC increased its holdings in Phillips 66 by 5.1% in the third quarter. Avestar Capital LLC now owns 1,885 shares of the oil and gas company’s stock worth $248,000 after purchasing an additional 92 shares in the last quarter. Finally, Pinnacle Bancorp Inc. lifted its stake in Phillips 66 by 3.9% in the fourth quarter. Pinnacle Bancorp Inc. now owns 2,535 shares of the oil and gas company’s stock valued at $289,000 after buying an additional 95 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the subject of several recent analyst reports. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. StockNews.com upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday. UBS Group decreased their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Barclays cut their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, Mizuho decreased their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Trading Down 1.2 %

Shares of Phillips 66 stock opened at $127.30 on Tuesday. The company has a market capitalization of $52.57 billion, a P/E ratio of 25.77, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37. The stock has a fifty day simple moving average of $119.39 and a 200 day simple moving average of $126.97. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

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 (EPS) 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 previous year, the company earned $3.09 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be paid a $1.15 dividend. The ex-dividend date is Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.61%. Phillips 66’s dividend payout ratio (DPR) is 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.