Phillips 66 (NYSE:PSX) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its holdings in Phillips 66 (NYSE:PSX) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,122 shares of the oil and gas company’s stock after acquiring an additional 1,340 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Phillips 66 were worth $13,743,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the business. Van ECK Associates Corp boosted its position in shares of Phillips 66 by 263.3% in the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after buying an additional 60,355 shares in the last quarter. Flavin Financial Services Inc. purchased a new position in shares of Phillips 66 during the 4th quarter valued at approximately $1,190,000. Everence Capital Management Inc. bought a new position in Phillips 66 during the fourth quarter worth $3,033,000. Donoghue Forlines LLC acquired a new stake in Phillips 66 in the fourth quarter worth $1,438,000. Finally, Mizuho Securities USA LLC increased its holdings in shares of Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after purchasing an additional 2,467,316 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

NYSE:PSX opened at $128.24 on Tuesday. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company has a market cap of $52.96 billion, a P/E ratio of 25.96, a P/E/G ratio of 5.64 and a beta of 1.37. The firm’s fifty day moving average price is $118.74 and its two-hundred day moving average price is $127.19. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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 return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the prior year, the firm posted $3.09 EPS. Equities analysts expect that Phillips 66 will post 7.14 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.59%. The ex-dividend date is Monday, February 24th. Phillips 66’s dividend payout ratio is presently 93.12%.

Analyst Ratings Changes

PSX has been the topic of a number of research analyst reports. Barclays lowered their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Wells Fargo & Company lifted their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. UBS Group lowered their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

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.