Phillips 66 (NYSE:PSX) Shares Purchased by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. boosted its holdings in Phillips 66 (NYSE:PSX) by 10.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 46,953 shares of the oil and gas company’s stock after acquiring an additional 4,515 shares during the period. Oppenheimer & Co. Inc.’s holdings in Phillips 66 were worth $5,349,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in shares of Phillips 66 by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after purchasing an additional 639,323 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Phillips 66 by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after purchasing an additional 16,941 shares during the last quarter. Mizuho Securities USA LLC boosted its stake in shares of Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after purchasing an additional 633,970 shares during the last quarter. Finally, ING Groep NV boosted its stake in shares of Phillips 66 by 123.2% during the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after purchasing an additional 653,032 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on PSX. Barclays decreased their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Mizuho cut their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. StockNews.com upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday, February 22nd. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. Finally, Wells Fargo & Company increased their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Trading Up 1.9 %

NYSE PSX opened at $129.81 on Friday. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company’s 50 day moving average price is $120.60 and its 200 day moving average price is $126.86. 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 firm has a market capitalization of $52.92 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 4.84 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted 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 earnings per share. On average, sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be paid a dividend of $1.15 per share. The ex-dividend date is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.54%. Phillips 66’s dividend payout ratio is currently 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.