Geode Capital Management LLC Acquires 82,758 Shares of Phillips 66 (NYSE:PSX)

Geode Capital Management LLC grew its holdings in Phillips 66 (NYSE:PSX) by 1.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 8,530,242 shares of the oil and gas company’s stock after acquiring an additional 82,758 shares during the period. Geode Capital Management LLC’s holdings in Phillips 66 were worth $968,844,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PSX. Oppenheimer & Co. Inc. grew its position in 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 during the period. Flavin Financial Services Inc. acquired a new stake in shares of Phillips 66 in the 4th quarter valued at $1,190,000. Everence Capital Management Inc. bought a new stake in shares of Phillips 66 in the 4th quarter worth about $3,033,000. Donoghue Forlines LLC acquired a new stake in shares of Phillips 66 during the 4th quarter worth about $1,438,000. Finally, Smith Group Asset Management LLC bought a new position in Phillips 66 during the 4th quarter valued at about $1,149,000. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PSX shares. Wells Fargo & Company upped their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. 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. Mizuho cut their price objective 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. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, The Goldman Sachs Group cut Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target for the company. in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average target price of $146.43.

Phillips 66 Stock Down 0.2 %

Shares of NYSE:PSX opened at $124.11 on Thursday. The company has a 50 day moving average of $125.02 and a 200-day moving average of $125.48. Phillips 66 has a one year low of $108.91 and a one year high of $174.08. The stock has a market cap of $50.60 billion, a price-to-earnings ratio of 25.12, a P/E/G ratio of 4.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

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 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 quarter last year, the business posted $3.09 EPS. On average, sell-side analysts forecast 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. Shareholders of record on Monday, February 24th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.71%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is 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.