NEOS Investment Management LLC Buys 6,221 Shares of Phillips 66 (NYSE:PSX)

NEOS Investment Management LLC increased its position in Phillips 66 (NYSE:PSX) by 31.3% in the 4th quarter, HoldingsChannel reports. The fund owned 26,087 shares of the oil and gas company’s stock after buying an additional 6,221 shares during the quarter. NEOS Investment Management LLC’s holdings in Phillips 66 were worth $2,972,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. lifted 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 valued at $5,349,000 after buying an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. bought a new position in shares of Phillips 66 in the fourth quarter worth about $1,190,000. Everence Capital Management Inc. purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $3,033,000. Donoghue Forlines LLC bought a new stake in Phillips 66 during the 4th quarter valued at approximately $1,438,000. Finally, Smith Group Asset Management LLC purchased a new position in Phillips 66 in the 4th quarter worth approximately $1,149,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 2.4 %

Shares of PSX opened at $121.67 on Friday. 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 business has a fifty day moving average of $124.76 and a 200 day moving average of $125.52. The company has a market cap of $49.60 billion, a PE ratio of 24.63, a P/E/G 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.

Phillips 66 (NYSE:PSX) last released 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 return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the prior year, the business posted $3.09 earnings per share. On average, sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid 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 dividend yield of 3.78%. Phillips 66’s dividend payout ratio is 93.12%.

Analysts Set New Price Targets

PSX has been the topic of several recent analyst reports. Barclays lifted their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. The Goldman Sachs Group downgraded Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a research report on Thursday. Finally, Mizuho cut their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $146.43.

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.