Vestcor Inc Increases Stake in Phillips 66 (NYSE:PSX)

by · The Markets Daily

Vestcor Inc grew its position in Phillips 66 (NYSE:PSX – Free Report) by 7.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,690 shares of the oil and gas company’s stock after acquiring an additional 1,273 shares during the period. Vestcor Inc’s holdings in Phillips 66 were worth $2,015,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PSX. Truvestments Capital LLC raised its stake in shares of Phillips 66 by 175.4% during the 4th quarter. Truvestments Capital LLC now owns 325 shares of the oil and gas company’s stock worth $37,000 after buying an additional 207 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in Phillips 66 by 2.9% during the fourth quarter. Farther Finance Advisors LLC now owns 8,186 shares of the oil and gas company’s stock worth $933,000 after acquiring an additional 229 shares during the period. EverSource Wealth Advisors LLC raised its position in Phillips 66 by 5.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,934 shares of the oil and gas company’s stock worth $562,000 after acquiring an additional 239 shares in the last quarter. Sequoia Financial Advisors LLC lifted its holdings in Phillips 66 by 4.4% in the fourth quarter. Sequoia Financial Advisors LLC now owns 29,532 shares of the oil and gas company’s stock valued at $3,365,000 after acquiring an additional 1,236 shares during the period. Finally, Saturna Capital Corp boosted its position in shares of Phillips 66 by 204.7% during the 4th quarter. Saturna Capital Corp now owns 5,268 shares of the oil and gas company’s stock worth $600,000 after purchasing an additional 3,539 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PSX. Barclays raised their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Mizuho lowered their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Finally, StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $149.43.

Get Our Latest Report on Phillips 66

Phillips 66 Price Performance

NYSE:PSX opened at $126.84 on Friday. Phillips 66 has a 12-month low of $108.91 and a 12-month high of $174.08. 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’s 50-day moving average is $122.82 and its two-hundred day moving average is $126.03. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX – Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) 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 in the previous year, the company posted $3.09 EPS. Research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders 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 3.63%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

Phillips 66 Profile

(Free Report)

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.

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