Runnymede Capital Advisors Inc. Purchases Shares of 3,265 Phillips 66 (NYSE:PSX)

Runnymede Capital Advisors Inc. purchased a new stake in Phillips 66 (NYSE:PSX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,265 shares of the oil and gas company’s stock, valued at approximately $372,000.

A number of other institutional investors have also recently made changes to their positions in PSX. Bank of New York Mellon Corp lifted its stake in shares of Phillips 66 by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock valued at $1,064,601,000 after purchasing an additional 639,323 shares during the period. Amundi lifted its stake in shares of Phillips 66 by 25.7% in the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock valued at $428,081,000 after purchasing an additional 753,653 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Phillips 66 by 3.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,002,995 shares of the oil and gas company’s stock valued at $342,131,000 after purchasing an additional 101,108 shares during the period. 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 purchasing an additional 633,970 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in shares of Phillips 66 in the 4th quarter valued at about $168,790,000. Institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PSX. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Barclays boosted their price objective on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Mizuho dropped their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $149.43.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $125.51 on Friday. The company 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. Phillips 66 has a 52 week low of $108.91 and a 52 week high of $174.08. The business has a 50 day moving average price of $124.11 and a 200-day moving average price of $125.71. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate 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 previous year, the company earned $3.09 earnings per share. Equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 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.