Marco Investment Management LLC Has $9 Million Position in Phillips 66 (NYSE:PSX)

Marco Investment Management LLC grew its holdings in shares of Phillips 66 (NYSE:PSX) by 1.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,982 shares of the oil and gas company’s stock after acquiring an additional 1,060 shares during the period. Marco Investment Management LLC’s holdings in Phillips 66 were worth $8,998,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Oppenheimer & Co. Inc. grew its stake in shares of Phillips 66 by 10.6% in 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 during the period. Van ECK Associates Corp grew its stake in shares of Phillips 66 by 263.3% in the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after buying an additional 60,355 shares during the period. Flavin Financial Services Inc. acquired a new stake in shares of Phillips 66 in the 4th quarter valued at about $1,190,000. Everence Capital Management Inc. acquired a new stake in shares of Phillips 66 in the 4th quarter valued at about $3,033,000. Finally, Donoghue Forlines LLC acquired a new stake in shares of Phillips 66 in the 4th quarter valued at about $1,438,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research note on Friday, January 3rd. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Barclays cut their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Wells Fargo & Company lifted their price target on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Price Performance

Phillips 66 stock opened at $122.72 on Friday. The company’s 50 day moving average price is $121.49 and its two-hundred day moving average price is $126.44. The stock has a market cap of $50.03 billion, a P/E ratio of 24.84, a P/E/G ratio of 4.84 and a beta of 1.37. 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 52 week low of $108.91 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) 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 quarter in the previous year, the business earned $3.09 EPS. On average, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced 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 was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.75%. Phillips 66’s dividend payout ratio is presently 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.