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

Charles Schwab Investment Management Inc. lifted its holdings in shares of Phillips 66 (NYSE:PSX) by 3.5% in the 4th quarter, HoldingsChannel reports. The fund owned 3,002,995 shares of the oil and gas company’s stock after purchasing an additional 101,108 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Phillips 66 were worth $342,131,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in PSX. Garrett Wealth Advisory Group LLC increased its holdings in Phillips 66 by 2.4% during the 4th quarter. Garrett Wealth Advisory Group LLC now owns 6,415 shares of the oil and gas company’s stock worth $731,000 after purchasing an additional 150 shares in the last quarter. Fidelis Capital Partners LLC boosted its position in shares of Phillips 66 by 5.9% during the fourth quarter. Fidelis Capital Partners LLC now owns 3,067 shares of the oil and gas company’s stock valued at $361,000 after buying an additional 172 shares during the last quarter. SBI Securities Co. Ltd. bought a new stake in Phillips 66 during the fourth quarter worth $49,000. Jones Financial Companies Lllp raised its position in Phillips 66 by 40.9% in the 4th quarter. Jones Financial Companies Lllp now owns 34,303 shares of the oil and gas company’s stock valued at $3,908,000 after buying an additional 9,959 shares during the last quarter. Finally, SRS Capital Advisors Inc. lifted its stake in Phillips 66 by 174.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,699 shares of the oil and gas company’s stock valued at $194,000 after acquiring an additional 1,079 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Down 2.0 %

Shares of PSX stock opened at $119.88 on Thursday. The business has a 50-day moving average price of $121.27 and a two-hundred day moving average price of $126.47. Phillips 66 has a 12-month low of $108.91 and a 12-month high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm has a market cap of $48.88 billion, a P/E ratio of 24.27, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its earnings results 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 return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the company posted $3.09 earnings per share. 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. Investors of record on Monday, February 24th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.84%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio is currently 93.12%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday. Barclays decreased their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Mizuho dropped 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, Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

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.