Phillips 66 (NYSE:PSX) Shares Purchased by Zions Bancorporation N.A.

Zions Bancorporation N.A. increased its position in shares of Phillips 66 (NYSE:PSX) by 47.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,528 shares of the oil and gas company’s stock after buying an additional 1,136 shares during the quarter. Zions Bancorporation N.A.’s holdings in Phillips 66 were worth $402,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC raised its position in Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 120 shares during the last quarter. J.Safra Asset Management Corp purchased a new stake in shares of Phillips 66 in the fourth quarter valued at about $25,000. Stephens Consulting LLC boosted its stake in shares of Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after buying an additional 111 shares during the period. Human Investing LLC purchased a new position in shares of Phillips 66 during the fourth quarter worth about $30,000. Finally, Webster Bank N. A. increased its position in Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 88 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on PSX. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Barclays boosted their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research note on Friday, January 3rd. Finally, Wells Fargo & Company boosted their price target 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 investment analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $147.54.

Phillips 66 Stock Performance

PSX opened at $126.54 on Thursday. Phillips 66 has a 1-year low of $108.91 and a 1-year high of $174.08. The stock has a market cap of $51.59 billion, a P/E ratio of 25.61, a P/E/G ratio of 4.84 and a beta of 1.31. The stock’s 50 day simple moving average is $124.64 and its 200 day simple moving average is $125.57. 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 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 period last year, the business posted $3.09 earnings per share. As a group, equities analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date was Monday, February 24th. Phillips 66’s 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.