Millstone Evans Group LLC Makes New Investment in Phillips 66 (NYSE:PSX)

Millstone Evans Group LLC bought a new position in shares of Phillips 66 (NYSE:PSX) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 481 shares of the oil and gas company’s stock, valued at approximately $55,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Paragon Capital Management LLC grew its holdings in shares of Phillips 66 by 2.8% during the 4th quarter. Paragon Capital Management LLC now owns 13,267 shares of the oil and gas company’s stock worth $1,512,000 after acquiring an additional 359 shares during the period. Northwest & Ethical Investments L.P. grew its stake in shares of Phillips 66 by 41.7% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 20,952 shares of the oil and gas company’s stock worth $2,387,000 after buying an additional 6,167 shares during the last quarter. Wilkins Investment Counsel Inc. grew its stake in shares of Phillips 66 by 2.3% in the 4th quarter. Wilkins Investment Counsel Inc. now owns 16,549 shares of the oil and gas company’s stock worth $1,885,000 after buying an additional 371 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Phillips 66 by 4,491.3% in the 4th quarter. Teacher Retirement System of Texas now owns 130,347 shares of the oil and gas company’s stock worth $14,850,000 after buying an additional 127,508 shares during the last quarter. Finally, Arvest Investments Inc. grew its stake in shares of Phillips 66 by 1.7% in the 4th quarter. Arvest Investments Inc. now owns 8,475 shares of the oil and gas company’s stock worth $966,000 after buying an additional 143 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on PSX shares. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Barclays upped their price target on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Mizuho cut their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $147.54.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $125.51 on Monday. Phillips 66 has a one year low of $108.91 and a one year high of $174.08. The stock’s fifty day moving average is $124.11 and its 200 day moving average is $125.60. The stock has a market cap of $51.17 billion, a P/E ratio of 25.41, a P/E/G ratio of 4.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

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 analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the firm earned $3.09 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.67%. Phillips 66’s dividend payout ratio is currently 93.12%.

Phillips 66 Company 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.