AlTi Global Inc. Has $7.36 Million Stock Position in Phillips 66 (NYSE:PSX)

AlTi Global Inc. boosted its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 2,100.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,826 shares of the oil and gas company's stock after buying an additional 59,971 shares during the quarter. AlTi Global Inc.'s holdings in Phillips 66 were worth $7,356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PSX. NewEdge Wealth LLC raised its stake 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 valued at $1,732,000 after acquiring an additional 81 shares during the period. JBR Co Financial Management Inc raised its position in shares of Phillips 66 by 0.9% in the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company's stock valued at $1,085,000 after purchasing an additional 85 shares during the period. Nwam LLC boosted its holdings in shares of Phillips 66 by 2.2% during the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock worth $442,000 after buying an additional 85 shares during the period. Webster Bank N. A. grew its stake in Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company's stock valued at $31,000 after buying an additional 88 shares during the last quarter. Finally, PFG Private Wealth Management LLC grew its stake in Phillips 66 by 7.7% in the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock valued at $140,000 after buying an additional 88 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Up 3.5 %

NYSE PSX opened at $107.08 on Friday. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The business has a fifty day moving average price of $113.45 and a two-hundred day moving average price of $120.22. 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 stock has a market capitalization of $43.63 billion, a PE ratio of 21.68, a PEG ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). The business had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the business earned $1.90 earnings per share. Equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 4.48%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66's dividend payout ratio is currently 109.34%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Barclays reduced their price objective on Phillips 66 from $135.00 to $106.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Scotiabank lowered their price objective on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. Raymond James reduced their target price on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. UBS Group lowered their price target on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Finally, The Goldman Sachs Group downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective for the company. in a report on Thursday, March 27th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $136.36.

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.

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