Massachusetts Financial Services Co. MA Grows Stock Holdings in Phillips 66 (NYSE:PSX)

Massachusetts Financial Services Co. MA raised its stake in Phillips 66 (NYSE:PSX) by 4.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,107,397 shares of the oil and gas company’s stock after buying an additional 43,238 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Phillips 66 were worth $126,166,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Groupama Asset Managment increased its stake in Phillips 66 by 108.8% in the 4th quarter. Groupama Asset Managment now owns 21,800 shares of the oil and gas company’s stock valued at $2,441,000 after purchasing an additional 11,360 shares in the last quarter. Headlands Technologies LLC purchased a new stake in shares of Phillips 66 in the 4th quarter worth about $178,000. Lokken Investment Group LLC grew its stake in Phillips 66 by 2.4% in the 4th quarter. Lokken Investment Group LLC now owns 9,272 shares of the oil and gas company’s stock valued at $1,056,000 after acquiring an additional 219 shares during the last quarter. Geode Capital Management LLC increased its holdings in Phillips 66 by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock valued at $968,844,000 after acquiring an additional 82,758 shares in the last quarter. Finally, Nemes Rush Group LLC raised its position in Phillips 66 by 29.8% during the fourth quarter. Nemes Rush Group LLC now owns 2,104 shares of the oil and gas company’s stock worth $240,000 after acquiring an additional 483 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSX has been the subject of a number of recent research reports. Mizuho dropped their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. Wells Fargo & Company increased their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, Barclays increased their price target on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $146.43.

Phillips 66 Stock Performance

Phillips 66 stock opened at $98.65 on Friday. The company has a market cap of $40.22 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. Phillips 66 has a 12 month low of $95.67 and a 12 month 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. The stock’s 50-day moving average is $124.24 and its 200-day moving average is $125.15.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 last year, the firm earned $3.09 EPS. Equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 4.66%. Phillips 66’s dividend payout ratio is currently 93.12%.

About Phillips 66

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.