Ieq Capital LLC Buys 9,124 Shares of Phillips 66 (NYSE:PSX)

Ieq Capital LLC boosted its position in Phillips 66 (NYSE:PSX) by 61.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 23,999 shares of the oil and gas company’s stock after purchasing an additional 9,124 shares during the quarter. Ieq Capital LLC’s holdings in Phillips 66 were worth $2,734,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PSX. Charles Schwab Investment Management Inc. raised 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 acquiring an additional 16,941 shares in the last quarter. Mizuho Securities USA LLC boosted its stake in Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. Bank of Montreal Can grew its holdings in Phillips 66 by 63.4% in the third 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. ING Groep NV increased its position in shares of Phillips 66 by 123.2% during the third 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 in the last quarter. Finally, National Pension Service lifted its holdings in shares of Phillips 66 by 6.8% during the 3rd quarter. National Pension Service now owns 1,001,734 shares of the oil and gas company’s stock valued at $131,678,000 after purchasing an additional 63,349 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. UBS Group dropped their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Barclays dropped their price target on 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 decreased their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Finally, StockNews.com upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Trading Down 2.1 %

Shares of Phillips 66 stock opened at $128.78 on Friday. The stock has a market cap of $53.18 billion, a PE ratio of 26.07, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37. The firm has a fifty day moving average price of $119.17 and a 200 day moving average price of $127.07. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. 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 released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 in the previous year, the business posted $3.09 EPS. Equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date is Monday, February 24th. Phillips 66’s payout ratio is presently 93.12%.

About Phillips 66

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.