Tortoise Investment Management LLC Has $72,000 Holdings in Phillips 66 (NYSE:PSX)

Tortoise Investment Management LLC grew its stake in Phillips 66 (NYSE:PSX) by 16.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 633 shares of the oil and gas company’s stock after buying an additional 88 shares during the quarter. Tortoise Investment Management LLC’s holdings in Phillips 66 were worth $72,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PSX. Mizuho Securities USA LLC boosted its holdings in shares of Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after buying an additional 2,467,316 shares during the period. Raymond James Financial Inc. acquired a new position in Phillips 66 during the fourth quarter worth $168,790,000. Amundi boosted its holdings in Phillips 66 by 25.7% during the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after purchasing an additional 753,653 shares during the last quarter. ING Groep NV boosted its holdings in Phillips 66 by 123.2% during the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after purchasing an additional 653,032 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Phillips 66 by 7.3% during 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 during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Wells Fargo & Company increased their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. Finally, Mizuho reduced their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Price Performance

Shares of PSX opened at $126.41 on Tuesday. The firm has a market capitalization of $51.54 billion, a PE ratio of 25.59, a PEG ratio of 4.84 and a beta of 1.31. The company’s 50-day moving average is $122.05 and its 200-day moving average is $126.21. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 quarter in the prior year, the business earned $3.09 earnings per share. Equities analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio is 93.12%.

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.