Charles Schwab Investment Management Inc. Has $389.39 Million Holdings in Phillips 66 (NYSE:PSX)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,924,738 shares of the oil and gas company’s stock after purchasing an additional 28,826 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.66% of Phillips 66 worth $389,393,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale boosted its stake in Phillips 66 by 12.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after purchasing an additional 22,278 shares during the period. Eldred Rock Partners LLC bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $10,402,000. Choate Investment Advisors acquired a new stake in shares of Phillips 66 in the third quarter valued at approximately $247,000. First Dallas Securities Inc. bought a new stake in Phillips 66 during the 3rd quarter worth about $753,000. Finally, TIAA Trust National Association grew its stake in Phillips 66 by 32.9% in the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after purchasing an additional 3,670 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE:PSX traded up $1.99 during trading on Wednesday, reaching $147.20. The stock had a trading volume of 1,214,755 shares, compared to its average volume of 2,921,041. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The stock has a market cap of $62.41 billion, a PE ratio of 11.17, a PEG ratio of 1.82 and a beta of 1.41. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The business has a fifty day moving average price of $155.48 and a 200-day moving average price of $138.78.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The firm had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. During the same period in the prior year, the company posted $4.21 earnings per share. On average, equities analysts forecast that Phillips 66 will post 13.17 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 3rd. Stockholders of record on Monday, May 20th will be given a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 3.13%. Phillips 66’s dividend payout ratio is currently 32.31%.

Analysts Set New Price Targets

PSX has been the topic of a number of recent research reports. Piper Sandler increased their target price on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Wells Fargo & Company upped their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Raymond James increased their target price on shares of Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Mizuho decreased their target price on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Finally, Scotiabank upped their price objective on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Five analysts have rated the stock with a hold rating and eleven have assigned 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 $157.43.

Insider Buying and Selling at Phillips 66

In other news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Robert W. Pease bought 682 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were bought at an average cost of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,036,164.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,056 shares of company stock worth $5,272,681. Corporate insiders own 0.22% of the company’s stock.

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.