Stevens Capital Management LP Invests $886,000 in Phillips 66 (NYSE:PSX)

Stevens Capital Management LP bought a new position in Phillips 66 (NYSE:PSX) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 7,774 shares of the oil and gas company’s stock, valued at approximately $886,000.

Several other hedge funds have also recently modified their holdings of PSX. NewEdge Wealth LLC boosted its stake in Phillips 66 by 0.5% in the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock worth $1,732,000 after purchasing an additional 81 shares in the last quarter. JBR Co Financial Management Inc boosted its stake in Phillips 66 by 0.9% in the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock worth $1,085,000 after purchasing an additional 85 shares in the last quarter. Nwam LLC boosted its stake in Phillips 66 by 2.2% in the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock worth $442,000 after purchasing an additional 85 shares in the last quarter. Webster Bank N. A. boosted its stake in Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 88 shares in the last quarter. Finally, PFG Private Wealth Management LLC boosted its stake in Phillips 66 by 7.7% in the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock worth $140,000 after purchasing an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of recent analyst reports. Mizuho lowered their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Wells Fargo & Company raised their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Barclays raised their price target on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Finally, Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.54.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $125.51 on Friday. The firm has a market cap of $51.17 billion, a PE ratio of 25.41, a PEG ratio of 4.84 and a beta of 1.31. The firm has a fifty day moving average of $124.11 and a 200 day moving average of $125.65. 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 has a one year low of $108.91 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results 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 quarter in the previous year, the business posted $3.09 earnings per share. As a group, research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.67%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s payout ratio is presently 93.12%.

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.