King Luther Capital Management Corp Has $4.80 Million Stake in Phillips 66 (NYSE:PSX)

King Luther Capital Management Corp boosted its position in Phillips 66 (NYSE:PSX) by 1.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,095 shares of the oil and gas company’s stock after buying an additional 755 shares during the period. King Luther Capital Management Corp’s holdings in Phillips 66 were worth $4,796,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Dearborn Partners LLC raised its holdings in shares of Phillips 66 by 8.1% during the fourth quarter. Dearborn Partners LLC now owns 6,669 shares of the oil and gas company’s stock valued at $760,000 after purchasing an additional 502 shares during the period. Riverbend Wealth Management LLC acquired a new position in shares of Phillips 66 during the fourth quarter valued at about $360,000. Davis R M Inc. raised its holdings in shares of Phillips 66 by 0.3% during the fourth quarter. Davis R M Inc. now owns 349,416 shares of the oil and gas company’s stock valued at $39,809,000 after purchasing an additional 956 shares during the period. Tortoise Investment Management LLC raised its holdings in shares of Phillips 66 by 16.1% during the fourth quarter. Tortoise Investment Management LLC now owns 633 shares of the oil and gas company’s stock valued at $72,000 after purchasing an additional 88 shares during the period. Finally, Independent Advisor Alliance raised its holdings in shares of Phillips 66 by 11.0% during the fourth quarter. Independent Advisor Alliance now owns 27,740 shares of the oil and gas company’s stock valued at $3,160,000 after purchasing an additional 2,755 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 0.4 %

Shares of PSX stock opened at $124.07 on Thursday. Phillips 66 has a 52-week low of $108.91 and a 52-week high of $174.08. 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 company has a 50-day simple moving average of $122.45 and a two-hundred day simple moving average of $126.11. The company has a market capitalization of $50.58 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (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 quarter in the prior year, the company earned $3.09 earnings per share. Research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

Analysts Set New Price Targets

PSX has been the topic of several research reports. 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. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Wells Fargo & Company upped their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Barclays dropped their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently 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.