International Assets Investment Management LLC Takes Position in Phillips 66 (NYSE:PSX)

International Assets Investment Management LLC purchased a new stake in Phillips 66 (NYSE:PSX) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 20,017 shares of the oil and gas company’s stock, valued at approximately $2,290,000.

Other large investors have also recently bought and sold shares of the company. Mizuho Securities USA LLC grew its stake in shares of Phillips 66 by 7,549.0% in the 3rd 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. ING Groep NV grew its position in Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after buying an additional 653,032 shares during the last quarter. Bank of Montreal Can increased its stake in Phillips 66 by 63.4% in the 3rd 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 buying an additional 633,970 shares during the period. Mizuho Markets Americas LLC acquired a new stake in shares of Phillips 66 in the 3rd quarter worth $70,983,000. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Phillips 66 by 574.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 443,044 shares of the oil and gas company’s stock worth $62,545,000 after acquiring an additional 377,314 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on PSX. Barclays cut their price target on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. UBS Group reduced 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. Bank of America began coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective on the stock. Piper Sandler set a $144.00 target price on Phillips 66 in a report on Thursday, October 17th. Finally, Wells Fargo & Company lowered their price target on shares of Phillips 66 from $167.00 to $161.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $148.57.

Phillips 66 Trading Up 0.9 %

NYSE:PSX opened at $116.26 on Thursday. The business’s 50-day moving average is $123.34 and its two-hundred day moving average is $130.77. The firm has a market capitalization of $48.01 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 4.06 and a beta of 1.38. 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 has a 12 month low of $108.90 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same period in the prior year, the company posted $4.63 EPS. Phillips 66’s quarterly revenue was down 10.3% on a year-over-year basis. Research analysts predict that Phillips 66 will post 7.56 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date was Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

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.