Bank of New York Mellon Corp Has $1.06 Billion Stock Position in Phillips 66 (NYSE:PSX)

Bank of New York Mellon Corp lifted its holdings in Phillips 66 (NYSE:PSX) by 7.3% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,344,342 shares of the oil and gas company’s stock after acquiring an additional 639,323 shares during the period. Bank of New York Mellon Corp owned approximately 2.26% of Phillips 66 worth $1,064,601,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Bogart Wealth LLC grew its position in shares of Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 120 shares in the last quarter. Stephens Consulting LLC boosted its stake in shares of Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 111 shares during the period. Human Investing LLC bought a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $30,000. Webster Bank N. A. grew its position in 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 buying an additional 88 shares in the last quarter. Finally, YANKCOM Partnership bought a new position in Phillips 66 during the 4th quarter worth $31,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Down 1.2 %

Shares of NYSE PSX opened at $127.30 on Tuesday. The company has a 50 day simple moving average of $119.39 and a 200 day simple moving average of $126.97. 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 1 year low of $108.90 and a 1 year high of $174.08. The firm has a market cap of $52.57 billion, a PE ratio of 25.77, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (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 quarter in the prior year, the company posted $3.09 EPS. On average, research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a $1.15 dividend. The ex-dividend date is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.61%. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wells Fargo & Company upped their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. StockNews.com raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday. Barclays dropped their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Finally, Mizuho reduced their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target 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.