Raiffeisen Bank International AG Acquires Shares of 3,058 Phillips 66 (NYSE:PSX)

Raiffeisen Bank International AG bought a new position in Phillips 66 (NYSE:PSX) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,058 shares of the oil and gas company’s stock, valued at approximately $342,000.

Other large investors have also recently made changes to their positions in the company. NewEdge Wealth LLC grew its stake in shares of Phillips 66 by 0.5% during the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock valued at $1,732,000 after buying an additional 81 shares during the last quarter. JBR Co Financial Management Inc grew its position 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 valued at $1,085,000 after acquiring an additional 85 shares during the last quarter. Nwam LLC increased its stake in Phillips 66 by 2.2% in the fourth 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 during the period. Webster Bank N. A. increased its stake in Phillips 66 by 48.4% in the fourth 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 during the period. Finally, PFG Private Wealth Management LLC lifted its position in shares of Phillips 66 by 7.7% during the fourth 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 during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSX has been the topic of several recent analyst reports. Barclays raised their price target on shares of Phillips 66 from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Monday, May 12th. JPMorgan Chase & Co. reduced their target price on shares of Phillips 66 from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 29th. UBS Group lowered their price target on Phillips 66 from $144.00 to $140.00 and set a “buy” rating for the company in a report on Monday, April 28th. Raymond James dropped their price objective on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Finally, The Goldman Sachs Group lowered Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price for the company. in a research report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $137.86.

Phillips 66 Stock Up 0.7%

NYSE:PSX opened at $125.69 on Friday. The company’s 50-day simple moving average is $111.61 and its 200-day simple moving average is $119.23. 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 $91.01 and a fifty-two week high of $150.12. The stock has a market capitalization of $51.21 billion, a P/E ratio of 25.44, a P/E/G ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The firm had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. During the same quarter last year, the business earned $1.90 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a $1.20 dividend. The ex-dividend date is Monday, May 19th. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 3.82%. Phillips 66’s dividend payout ratio (DPR) is 109.34%.

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.