4,996 Shares in Phillips 66 (NYSE:PSX) Bought by Bryce Point Capital LLC

Bryce Point Capital LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 4,996 shares of the oil and gas company’s stock, valued at approximately $569,000.

A number of other hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in shares of Phillips 66 by 7.3% in the fourth 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 last quarter. Geode Capital Management LLC grew its position in Phillips 66 by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock worth $968,844,000 after purchasing an additional 82,758 shares in the last quarter. Norges Bank purchased a new stake in Phillips 66 in the 4th quarter valued at about $497,648,000. Amundi lifted its position in shares of Phillips 66 by 25.7% during the 4th 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted 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 worth $342,131,000 after buying an additional 101,108 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PSX has been the topic of a number of recent analyst reports. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Barclays increased their price target on shares of Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective on the stock. in a research report on Thursday, March 27th. Finally, Mizuho reduced 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 report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $146.43.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $124.11 on Thursday. The stock has a fifty day moving average of $125.02 and a 200-day moving average of $125.48. The stock has a market cap of $50.60 billion, a PE ratio of 25.12, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. 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 fifty-two week low of $108.91 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the firm earned $3.09 EPS. Equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued 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%.

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.