Kornitzer Capital Management Inc. KS Has $5.89 Million Stock Holdings in Phillips 66 (NYSE:PSX)

Kornitzer Capital Management Inc. KS decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 1.0% in the 4th quarter, HoldingsChannel reports. The firm owned 51,676 shares of the oil and gas company’s stock after selling 540 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Phillips 66 were worth $5,887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in PSX. Mizuho Securities USA LLC lifted its holdings in shares of Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after buying an additional 2,467,316 shares in the last quarter. ING Groep NV lifted its holdings in shares of Phillips 66 by 123.2% during the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after buying an additional 653,032 shares in the last quarter. Bank of Montreal Can lifted its holdings in shares of Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after buying an additional 633,970 shares in the last quarter. Mizuho Markets Americas LLC acquired a new stake in shares of Phillips 66 during the third quarter worth $70,983,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Phillips 66 by 73.2% during the third quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock worth $96,294,000 after buying an additional 309,507 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $130.51 on Wednesday. The business’s 50 day simple moving average is $118.80 and its 200 day simple moving average is $127.08. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The stock has a market capitalization of $53.90 billion, a PE ratio of 26.42, a PEG ratio of 5.64 and a beta of 1.37. 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 net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the firm earned $3.09 earnings per share. As a group, research analysts forecast that Phillips 66 will post 7.14 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. Shareholders of record on Monday, February 24th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Analysts Set New Price Targets

PSX has been the subject of a number of research reports. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, February 14th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. UBS Group dropped their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Mizuho dropped their price target on 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, Wells Fargo & Company boosted their price target on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Profile

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.