First Horizon Advisors Inc. Boosts Holdings in Phillips 66 (NYSE:PSX)

First Horizon Advisors Inc. increased its holdings in shares of Phillips 66 (NYSE:PSX) by 5.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,974 shares of the oil and gas company’s stock after buying an additional 148 shares during the period. First Horizon Advisors Inc.’s holdings in Phillips 66 were worth $339,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Webster Bank N. A. increased its position in shares of Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 88 shares during the period. Cobblestone Capital Advisors LLC NY increased its holdings in Phillips 66 by 0.5% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock worth $2,307,000 after purchasing an additional 89 shares during the period. Avestar Capital LLC raised its position in Phillips 66 by 5.1% in the 3rd quarter. Avestar Capital LLC now owns 1,885 shares of the oil and gas company’s stock valued at $248,000 after purchasing an additional 92 shares in the last quarter. Pinnacle Bancorp Inc. boosted its stake in shares of Phillips 66 by 3.9% in the 4th quarter. Pinnacle Bancorp Inc. now owns 2,535 shares of the oil and gas company’s stock valued at $289,000 after buying an additional 95 shares during the period. Finally, Everpar Advisors LLC boosted its stake in shares of Phillips 66 by 2.5% in the 4th quarter. Everpar Advisors LLC now owns 4,005 shares of the oil and gas company’s stock valued at $456,000 after buying an additional 96 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Down 0.7 %

Phillips 66 stock opened at $126.21 on Wednesday. The company has a market capitalization of $52.12 billion, a P/E ratio of 25.55, a PEG ratio of 4.84 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 fifty-two week low of $108.90 and a fifty-two week high of $174.08. The stock has a 50-day simple moving average of $119.60 and a 200-day simple moving average of $126.91.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm posted $3.09 earnings per share. Equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current 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 dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s dividend payout ratio is currently 93.12%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PSX. Mizuho reduced their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. StockNews.com upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Barclays dropped 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. Finally, UBS Group decreased their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price 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.