Mountain Hill Investment Partners Corp. Acquires New Shares in Phillips 66 (NYSE:PSX)

Mountain Hill Investment Partners Corp. bought a new position in shares of Phillips 66 (NYSE:PSX) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 43,315 shares of the oil and gas company’s stock, valued at approximately $4,935,000. Phillips 66 makes up about 5.0% of Mountain Hill Investment Partners Corp.’s portfolio, making the stock its 10th biggest position.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Phillips 66 during the 4th quarter worth approximately $168,790,000. Amundi grew its stake in shares of Phillips 66 by 25.7% during the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after buying an additional 753,653 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Phillips 66 by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after buying an additional 639,323 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Phillips 66 by 63.4% in the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after acquiring an additional 633,970 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new stake in shares of Phillips 66 during the 3rd quarter valued at $34,042,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

PSX stock opened at $125.51 on Monday. The firm has a market cap of $51.17 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $124.11 and a 200-day moving average price of $125.60. Phillips 66 has a 1-year low of $108.91 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its 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 return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the company earned $3.09 earnings per share. As a group, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently announced 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. The ex-dividend date was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.67%. Phillips 66’s payout ratio is presently 93.12%.

Wall Street Analyst Weigh In

PSX has been the subject of a number of recent research reports. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Barclays boosted their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Finally, Mizuho lowered their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $147.54.

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.