First Merchants Corp Has $1.89 Million Holdings in Phillips 66 (NYSE:PSX)

First Merchants Corp boosted its position in shares of Phillips 66 (NYSE:PSX) by 5.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 16,580 shares of the oil and gas company’s stock after acquiring an additional 784 shares during the period. First Merchants Corp’s holdings in Phillips 66 were worth $1,889,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bogart Wealth LLC grew its holdings in shares of Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after buying an additional 120 shares in the last quarter. nVerses Capital LLC acquired a new position in Phillips 66 during the 3rd quarter worth approximately $26,000. Stephens Consulting LLC boosted its position in Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 111 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of Phillips 66 during the 3rd quarter worth approximately $30,000. Finally, Webster Bank N. A. raised its holdings in shares of 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 valued at $31,000 after purchasing an additional 88 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on PSX shares. Bank of America assumed coverage on shares of Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 target price for the company. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. 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 research report on Monday, November 4th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. Finally, StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Trading Up 0.5 %

PSX stock opened at $125.70 on Friday. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The stock has a market cap of $51.91 billion, a price-to-earnings ratio of 25.44, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. The company has a fifty day moving average price of $118.83 and a two-hundred day moving average price of $127.55. 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 announced its 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 in the prior year, the company posted $3.09 EPS. Equities analysts anticipate that Phillips 66 will post 7.14 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.66%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s payout ratio 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.