Van ECK Associates Corp Raises Stake in Phillips 66 (NYSE:PSX)

Van ECK Associates Corp boosted its position in Phillips 66 (NYSE:PSX) by 2.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 28,570 shares of the oil and gas company’s stock after purchasing an additional 689 shares during the period. Van ECK Associates Corp’s holdings in Phillips 66 were worth $3,804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in Phillips 66 in the 4th quarter worth approximately $254,336,000. Bahl & Gaynor Inc. boosted its position in Phillips 66 by 41.2% in the 3rd quarter. Bahl & Gaynor Inc. now owns 1,506,861 shares of the oil and gas company’s stock worth $181,049,000 after purchasing an additional 439,360 shares in the last quarter. Acadian Asset Management LLC boosted its position in Phillips 66 by 1,038.3% in the 3rd quarter. Acadian Asset Management LLC now owns 472,208 shares of the oil and gas company’s stock worth $56,720,000 after purchasing an additional 430,723 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Phillips 66 by 53.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,214,738 shares of the oil and gas company’s stock worth $145,951,000 after purchasing an additional 421,714 shares in the last quarter. Finally, Nomura Holdings Inc. boosted its position in Phillips 66 by 10,239.5% in the 3rd quarter. Nomura Holdings Inc. now owns 399,000 shares of the oil and gas company’s stock worth $47,940,000 after purchasing an additional 395,141 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on PSX shares. Mizuho lowered their price objective on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research report on Friday, April 12th. Scotiabank upped their price objective on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. The Goldman Sachs Group upped their target price on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Piper Sandler upped their target price on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, April 5th. Finally, Raymond James upped their target price on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $157.43.

Phillips 66 Stock Down 0.2 %

NYSE PSX opened at $143.61 on Monday. The business has a fifty day moving average price of $155.55 and a 200 day moving average price of $138.35. Phillips 66 has a one year low of $89.74 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. The company has a market cap of $60.88 billion, a P/E ratio of 11.05, a P/E/G ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion during the quarter, compared to analyst estimates of $35.87 billion. During the same period in the prior year, the company posted $4.21 earnings per share. Research analysts anticipate that Phillips 66 will post 13.17 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.20%. Phillips 66’s dividend payout ratio (DPR) is 32.31%.

Insiders Place Their Bets

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Robert W. Pease bought 682 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was acquired at an average cost of $146.58 per share, with a total value of $99,967.56. Following the purchase, the director now directly owns 1,900 shares of the company’s stock, valued at $278,502. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 in the last three months. 0.22% of the stock is currently owned by insiders.

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.