Charles Schwab Investment Management Inc. Buys 101,108 Shares of Phillips 66 (NYSE:PSX)

Charles Schwab Investment Management Inc. grew its stake in shares of Phillips 66 (NYSE:PSX) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,002,995 shares of the oil and gas company’s stock after buying an additional 101,108 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.73% of Phillips 66 worth $342,131,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. NewEdge Wealth LLC increased its holdings in Phillips 66 by 0.5% in the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock worth $1,732,000 after purchasing an additional 81 shares in the last quarter. JBR Co Financial Management Inc grew its holdings in shares of Phillips 66 by 0.9% during the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock worth $1,085,000 after purchasing an additional 85 shares during the last quarter. Nwam LLC increased its stake in shares of Phillips 66 by 2.2% in the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock valued at $442,000 after buying an additional 85 shares during the period. Webster Bank N. A. boosted its position in Phillips 66 by 48.4% during the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after buying an additional 88 shares during the period. Finally, Cobblestone Capital Advisors LLC NY grew its holdings in Phillips 66 by 0.5% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock worth $2,307,000 after acquiring an additional 89 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Phillips 66 Stock Down 2.0 %

Phillips 66 stock opened at $119.88 on Thursday. The company has a market capitalization of $48.88 billion, a PE ratio of 24.27, a PEG ratio of 4.84 and a beta of 1.37. Phillips 66 has a 12-month low of $108.91 and a 12-month high of $174.08. The firm’s fifty day moving average is $121.27 and its 200 day moving average is $126.47. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data 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 quarter last 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 fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.84%. Phillips 66’s 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.