Rossby Financial LCC Takes $381,000 Position in Phillips 66 (NYSE:PSX)

Rossby Financial LCC acquired a new position in Phillips 66 (NYSE:PSX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,340 shares of the oil and gas company’s stock, valued at approximately $381,000.

Several other large investors have also recently made changes to their positions in PSX. Bank of New York Mellon Corp lifted its position in Phillips 66 by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after buying an additional 639,323 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Phillips 66 by 1.0% during the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock valued at $968,844,000 after acquiring an additional 82,758 shares during the last quarter. Norges Bank purchased a new stake in shares of Phillips 66 in the fourth quarter valued at about $497,648,000. Invesco Ltd. increased its position in Phillips 66 by 9.2% during the fourth quarter. Invesco Ltd. now owns 4,112,618 shares of the oil and gas company’s stock worth $468,551,000 after purchasing an additional 347,905 shares during the last quarter. Finally, Amundi raised its stake in Phillips 66 by 25.7% during the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after purchasing an additional 753,653 shares during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PSX has been the topic of several analyst reports. Mizuho reduced their price target on shares of Phillips 66 from $140.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 9th. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. The Goldman Sachs Group downgraded Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a research report on Thursday, March 27th. Raymond James lowered their target price on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Finally, Scotiabank reduced their price target on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $142.00.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $97.86 on Tuesday. The business has a 50-day simple moving average of $120.45 and a 200-day simple moving average of $123.27. The company has a market cap of $39.90 billion, a PE ratio of 19.81, a P/E/G ratio of 4.84 and a beta of 1.17. Phillips 66 has a one year low of $91.01 and a one year high of $165.00. 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 posted 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 last year, the firm posted $3.09 EPS. On average, equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend 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.