Davis R M Inc. Boosts Position in Phillips 66 (NYSE:PSX)

Davis R M Inc. boosted its position in shares of Phillips 66 (NYSE:PSX) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 349,416 shares of the oil and gas company’s stock after purchasing an additional 956 shares during the quarter. Davis R M Inc.’s holdings in Phillips 66 were worth $39,809,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Oppenheimer & Co. Inc. boosted its position in Phillips 66 by 10.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after purchasing an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. purchased a new stake in Phillips 66 during the fourth quarter worth $1,190,000. Everence Capital Management Inc. purchased a new stake in Phillips 66 during the fourth quarter worth $3,033,000. Donoghue Forlines LLC purchased a new stake in Phillips 66 during the fourth quarter worth $1,438,000. Finally, Mizuho Securities USA LLC boosted its position in Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Mizuho decreased their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Wells Fargo & Company upped their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research 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 on the stock in a research report on Friday, January 3rd. Finally, Barclays reduced their price objective on 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Stock Performance

Phillips 66 stock opened at $126.41 on Tuesday. The firm has a market capitalization of $51.54 billion, a P/E ratio of 25.59, a PEG ratio of 4.84 and a beta of 1.31. The stock has a fifty day moving average price of $122.05 and a 200 day moving average price of $126.21. Phillips 66 has a 52 week low of $108.91 and a 52 week 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 released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) 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 period last year, the business earned $3.09 earnings per share. Equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

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