Mattern Capital Management LLC Buys 5,510 Shares of Phillips 66 (NYSE:PSX)

Mattern Capital Management LLC lifted its stake in Phillips 66 (NYSE:PSX) by 6.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 94,376 shares of the oil and gas company’s stock after purchasing an additional 5,510 shares during the quarter. Phillips 66 makes up about 1.4% of Mattern Capital Management LLC’s portfolio, making the stock its 12th largest holding. Mattern Capital Management LLC’s holdings in Phillips 66 were worth $10,752,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Bogart Wealth LLC boosted its position in shares of Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 120 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Phillips 66 in the 3rd quarter worth approximately $26,000. Stephens Consulting LLC boosted its position in shares of Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 111 shares in the last quarter. Values First Advisors Inc. purchased a new position in Phillips 66 in the 3rd quarter worth approximately $30,000. Finally, Human Investing LLC purchased a new position in Phillips 66 in the 4th quarter worth approximately $30,000. 76.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. UBS Group lowered their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Barclays lowered their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Mizuho lowered their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $131.67 on Friday. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The stock’s fifty day moving average is $119.05 and its 200 day moving average is $127.13. The stock has a market cap of $54.38 billion, a P/E ratio of 26.65, a P/E/G ratio of 4.78 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last announced 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 period in the prior year, the firm earned $3.09 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.49%. Phillips 66’s payout ratio is presently 93.12%.

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.