Phillips 66 (NYSE:PSX) Shares Acquired by Nicholson Wealth Management Group LLC

Nicholson Wealth Management Group LLC increased its stake in Phillips 66 (NYSE:PSX) by 133.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 11,912 shares of the oil and gas company’s stock after buying an additional 6,802 shares during the quarter. Nicholson Wealth Management Group LLC’s holdings in Phillips 66 were worth $1,357,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Mizuho Securities USA LLC raised its position 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 worth $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. ING Groep NV raised its position in Phillips 66 by 123.2% in 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 acquiring an additional 653,032 shares in the last quarter. Bank of Montreal Can raised its position 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 acquiring an additional 633,970 shares in the last quarter. Mizuho Markets Americas LLC bought a new stake in Phillips 66 in the third quarter worth about $70,983,000. Finally, Assenagon Asset Management S.A. raised its position in Phillips 66 by 73.2% in the third quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock worth $96,294,000 after acquiring an additional 309,507 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Mizuho dropped their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Barclays cut their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Wolfe Research upgraded 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, StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, February 14th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Price Performance

NYSE PSX opened at $131.67 on Friday. The company has a 50 day simple moving average of $119.05 and a 200-day simple moving average of $127.13. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The firm has a market capitalization of $54.38 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 4.78 and a beta of 1.37. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results 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 previous year, the business earned $3.09 earnings per share. Equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.49%. 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.