Petros Family Wealth LLC Purchases New Position in Phillips 66 (NYSE:PSX)

Petros Family Wealth LLC acquired a new position in Phillips 66 (NYSE:PSX) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 5,398 shares of the oil and gas company’s stock, valued at approximately $615,000.

A number of other large investors have also recently made changes to their positions in PSX. Bank of New York Mellon Corp raised its holdings in Phillips 66 by 7.3% in the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after purchasing an additional 639,323 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Phillips 66 by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock worth $968,844,000 after buying an additional 82,758 shares in the last quarter. Norges Bank bought a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $497,648,000. Invesco Ltd. raised its holdings in Phillips 66 by 9.2% in the 4th quarter. Invesco Ltd. now owns 4,112,618 shares of the oil and gas company’s stock worth $468,551,000 after acquiring an additional 347,905 shares during the last quarter. Finally, Amundi lifted its position in Phillips 66 by 25.7% in the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock valued at $428,081,000 after acquiring an additional 753,653 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on PSX shares. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Barclays dropped their price objective on Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating for the company in a research note on Thursday. Finally, Mizuho cut their target price on shares of Phillips 66 from $140.00 to $132.00 and set a “neutral” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $142.00.

Phillips 66 Trading Up 0.2 %

PSX stock opened at $97.23 on Friday. The firm’s fifty day simple moving average is $120.96 and its two-hundred day simple moving average is $123.55. The stock has a market capitalization of $39.64 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $166.47.

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 net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the firm posted $3.09 EPS. As a group, analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 4.73%. Phillips 66’s dividend payout ratio (DPR) is currently 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.