26,620 Shares in Phillips 66 (NYSE:PSX) Purchased by Everence Capital Management Inc.

Everence Capital Management Inc. bought a new stake in Phillips 66 (NYSE:PSX) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 26,620 shares of the oil and gas company’s stock, valued at approximately $3,033,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Strategic Financial Concepts LLC acquired a new stake in Phillips 66 in the 2nd quarter valued at about $26,000. nVerses Capital LLC purchased a new stake in shares of Phillips 66 during the third quarter worth approximately $26,000. Values First Advisors Inc. acquired a new stake in Phillips 66 in the third quarter valued at approximately $30,000. Point72 Hong Kong Ltd purchased a new position in Phillips 66 in the third quarter worth approximately $40,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in Phillips 66 during the 2nd quarter worth approximately $51,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. UBS Group decreased their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company lowered their price objective on Phillips 66 from $167.00 to $161.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. Piper Sandler set a $144.00 target price on Phillips 66 in a research report on Thursday, October 17th. Morgan Stanley lowered their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Finally, Barclays cut their price objective on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $148.57.

Phillips 66 Stock Performance

Phillips 66 stock traded up $0.89 during midday trading on Friday, hitting $115.30. 522,223 shares of the company’s stock were exchanged, compared to its average volume of 1,481,118. The firm’s 50 day simple moving average is $124.13 and its 200 day simple moving average is $131.40. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a market cap of $47.62 billion, a price-to-earnings ratio of 14.80, a price-to-earnings-growth ratio of 4.06 and a beta of 1.35.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) 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 return on equity of 13.12% and a net margin of 2.24%. The business’s revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the company posted $4.63 earnings per share. Equities research analysts predict that Phillips 66 will post 7.56 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.99%. The ex-dividend date was Monday, November 18th. Phillips 66’s payout ratio is currently 59.05%.

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.