Cozad Asset Management Inc. Raises Stake in Phillips 66 (NYSE:PSX)

Cozad Asset Management Inc. increased its stake in shares of Phillips 66 (NYSE:PSX) by 2.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 38,320 shares of the oil and gas company’s stock after buying an additional 1,037 shares during the period. Cozad Asset Management Inc.’s holdings in Phillips 66 were worth $4,366,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. lifted its holdings in Phillips 66 by 10.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after purchasing an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. purchased a new stake in Phillips 66 during the 4th quarter worth about $1,190,000. Everence Capital Management Inc. bought a new position in Phillips 66 in the 4th quarter worth about $3,033,000. Donoghue Forlines LLC bought a new position in Phillips 66 in the 4th quarter worth about $1,438,000. Finally, Smith Group Asset Management LLC bought a new position in Phillips 66 in the 4th quarter worth about $1,149,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX opened at $126.84 on Monday. The firm has a market cap of $51.71 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. 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 business has a 50-day moving average price of $122.82 and a 200-day moving average price of $125.90. Phillips 66 has a twelve month low of $108.91 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS 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 prior year, the business earned $3.09 EPS. As a group, equities research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.63%. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Analyst Ratings Changes

A number of brokerages have weighed in on PSX. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. 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. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company upped their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Barclays upped their target price on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $149.43.

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.