Alliancebernstein L.P. Increases Stock Position in Phillips 66 (NYSE:PSX)

Alliancebernstein L.P. lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 1.2% in the fourth quarter, HoldingsChannel reports. The firm owned 1,062,016 shares of the oil and gas company’s stock after acquiring an additional 12,544 shares during the period. Alliancebernstein L.P.’s holdings in Phillips 66 were worth $120,995,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of PSX. Oppenheimer & Co. Inc. lifted its position in shares of Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after acquiring an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. purchased a new position in Phillips 66 in the 4th quarter valued at about $1,190,000. Everence Capital Management Inc. acquired a new stake in shares of Phillips 66 during the 4th quarter worth about $3,033,000. Donoghue Forlines LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $1,438,000. Finally, Smith Group Asset Management LLC purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $1,149,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Phillips 66 stock opened at $124.11 on Thursday. The firm has a fifty day moving average of $125.02 and a 200-day moving average of $125.48. Phillips 66 has a 52-week low of $108.91 and a 52-week high of $174.08. 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 capitalization of $50.60 billion, a P/E ratio of 25.12, a PEG ratio of 4.84 and a beta of 1.31.

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 (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 company earned $3.09 earnings per share. As a group, analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business 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 annualized dividend and a yield of 3.71%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Mizuho lowered their target price 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. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. The Goldman Sachs Group downgraded Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a research report on Thursday, March 27th. Wolfe Research upgraded 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. Finally, Wells Fargo & Company increased their price objective 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. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $146.43.

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.