Dorsey & Whitney Trust CO LLC Has $1.92 Million Stake in Phillips 66 (NYSE:PSX)

Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 51.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,827 shares of the oil and gas company’s stock after buying an additional 5,752 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Phillips 66 were worth $1,917,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Bank of New York Mellon Corp increased its position in Phillips 66 by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after buying an additional 639,323 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Phillips 66 by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,002,995 shares of the oil and gas company’s stock worth $342,131,000 after buying an additional 101,108 shares during the last quarter. Mizuho Securities USA LLC grew its position in shares of Phillips 66 by 7,549.0% in 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 last quarter. Bank of Montreal Can grew its position in shares of Phillips 66 by 63.4% in the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after purchasing an additional 633,970 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of Phillips 66 in the fourth quarter valued at about $168,790,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $126.51 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm has a market cap of $51.58 billion, a P/E ratio of 25.61, a P/E/G ratio of 4.84 and a beta of 1.31. The firm has a 50 day simple moving average of $121.76 and a 200 day simple moving average of $126.31. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results 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 quarter last year, the business posted $3.09 earnings per share. Sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio is currently 93.12%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PSX shares. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Barclays cut their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Wells Fargo & Company raised their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Mizuho cut their price target 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. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. One equities research 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. According to MarketBeat, the stock 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.