Heritage Investors Management Corp Raises Position in Phillips 66 (NYSE:PSX)

Heritage Investors Management Corp increased its holdings in Phillips 66 (NYSE:PSX) by 0.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 82,381 shares of the oil and gas company’s stock after purchasing an additional 682 shares during the period. Heritage Investors Management Corp’s holdings in Phillips 66 were worth $9,386,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Bogart Wealth LLC boosted its stake in Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after buying an additional 120 shares during the last quarter. Stephens Consulting LLC lifted its holdings in shares of Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 111 shares during the period. Human Investing LLC purchased a new position in shares of Phillips 66 during the 4th quarter worth about $30,000. Webster Bank N. A. boosted its position in shares of Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 88 shares during the last quarter. Finally, YANKCOM Partnership purchased a new stake in Phillips 66 in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 0.7 %

Shares of NYSE PSX opened at $125.40 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The stock’s 50-day simple moving average is $119.87 and its 200-day simple moving average is $126.89. The firm has a market cap of $51.13 billion, a price-to-earnings ratio of 25.38, a PEG ratio of 4.84 and a beta of 1.37.

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 in the previous year, the firm earned $3.09 EPS. As a group, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.67%. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Barclays cut their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Wells Fargo & Company increased their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. UBS Group lowered their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $148.00.

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.