NEOS Investment Management LLC Grows Position in Phillips 66 (NYSE:PSX)

NEOS Investment Management LLC increased its position in Phillips 66 (NYSE:PSX) by 31.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,087 shares of the oil and gas company’s stock after purchasing an additional 6,221 shares during the period. NEOS Investment Management LLC’s holdings in Phillips 66 were worth $2,972,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. UniSuper Management Pty Ltd grew its position in shares of Phillips 66 by 25.5% in the 4th quarter. UniSuper Management Pty Ltd now owns 32,747 shares of the oil and gas company’s stock worth $3,731,000 after buying an additional 6,662 shares during the period. Moment Partners LLC bought a new stake in Phillips 66 during the fourth quarter worth about $552,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Phillips 66 by 4.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 651,668 shares of the oil and gas company’s stock worth $75,652,000 after purchasing an additional 29,673 shares during the period. Graney & King LLC bought a new position in shares of Phillips 66 during the fourth quarter valued at approximately $28,000. Finally, Ausdal Financial Partners Inc. boosted its position in shares of Phillips 66 by 20.8% in the 4th quarter. Ausdal Financial Partners Inc. now owns 5,698 shares of the oil and gas company’s stock worth $649,000 after purchasing an additional 980 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of analyst reports. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. The Goldman Sachs Group downgraded Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target for the company. in a report on Thursday. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Mizuho decreased their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Finally, Wells Fargo & Company upped their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $146.43.

Phillips 66 Stock Down 2.4 %

Phillips 66 stock opened at $121.67 on Friday. Phillips 66 has a one year low of $108.91 and a one year high of $174.08. The stock has a fifty day moving average of $124.76 and a 200 day moving average of $125.52. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a market cap of $49.60 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last released its quarterly 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 quarter in the previous year, the business posted $3.09 EPS. As a group, sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.78%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio is presently 93.12%.

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.