CWA Asset Management Group LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX – Free Report) by 110.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,908 shares of the oil and gas company’s stock after acquiring an additional 2,055 shares during the period. CWA Asset Management Group LLC’s holdings in Phillips 66 were worth $445,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in PSX. nVerses Capital LLC purchased a new position in Phillips 66 during the third quarter valued at approximately $26,000. Values First Advisors Inc. bought a new stake in Phillips 66 during the 3rd quarter valued at $30,000. Point72 Hong Kong Ltd purchased a new position in shares of Phillips 66 in the 3rd quarter valued at $40,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Phillips 66 in the 2nd quarter worth $51,000. Finally, Hoese & Co LLP lifted its stake in shares of Phillips 66 by 33.1% during the 3rd quarter. Hoese & Co LLP now owns 402 shares of the oil and gas company’s stock worth $53,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.
Wall Street Analysts Forecast Growth
PSX has been the topic of several analyst reports. JPMorgan Chase & Co. cut their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 2nd. Barclays reduced their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research note on Monday, November 11th. Wells Fargo & Company lowered their target price on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research note on Monday, December 9th. Piper Sandler set a $144.00 price target on Phillips 66 in a research report on Thursday, October 17th. Finally, TD Cowen dropped their target price on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday, September 11th. Four investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.57.
Phillips 66 Price Performance
Shares of NYSE PSX opened at $116.26 on Thursday. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08. The business’s 50 day moving average price is $123.34 and its 200 day moving average price is $130.77. 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 firm has a market cap of $48.01 billion, a P/E ratio of 14.92, a P/E/G ratio of 4.06 and a beta of 1.38.
Phillips 66 (NYSE:PSX – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.63 earnings per share. On average, sell-side analysts expect that Phillips 66 will post 7.56 earnings per share for the current year.
Phillips 66 Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a $1.15 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.96%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.
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.
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