Phillips 66 (NYSE:PSX) Shares Acquired by Truist Financial Corp

Truist Financial Corp increased its stake in shares of Phillips 66 (NYSE:PSX) by 0.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 573,283 shares of the oil and gas company’s stock after buying an additional 4,336 shares during the quarter. Truist Financial Corp owned about 0.14% of Phillips 66 worth $65,314,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Krane Funds Advisors LLC raised its position in Phillips 66 by 3.6% in the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after acquiring an additional 82 shares in the last quarter. Webster Bank N. A. grew its stake in shares of Phillips 66 by 48.4% during the 4th 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. Cobblestone Capital Advisors LLC NY increased its holdings in shares of Phillips 66 by 0.5% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock valued at $2,307,000 after purchasing an additional 89 shares in the last quarter. Western Financial Corp CA lifted its position in shares of Phillips 66 by 1.6% during the 3rd quarter. Western Financial Corp CA now owns 5,882 shares of the oil and gas company’s stock valued at $773,000 after acquiring an additional 91 shares during the period. Finally, Avestar Capital LLC boosted its position in Phillips 66 by 5.1% during the third quarter. Avestar Capital LLC now owns 1,885 shares of the oil and gas company’s stock worth $248,000 after purchasing an additional 92 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on PSX. Mizuho cut 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 note on Monday, December 16th. Wells Fargo & Company upped their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. Finally, Barclays lowered their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $128.24 on Tuesday. The business’s 50-day simple moving average is $118.74 and its 200 day simple moving average is $127.19. The company has a market cap of $52.96 billion, a P/E ratio of 25.96, a PEG ratio of 5.64 and a beta of 1.37. 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 one year low of $108.90 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last announced its 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 quarter in the previous year, the company earned $3.09 earnings per share. On average, sell-side analysts forecast that Phillips 66 will post 7.14 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

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.