Consolidated Planning Corp Purchases 7,716 Shares of Phillips 66 (NYSE:PSX)

Consolidated Planning Corp lifted its position in Phillips 66 (NYSE:PSX) by 137.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 13,342 shares of the oil and gas company’s stock after acquiring an additional 7,716 shares during the period. Consolidated Planning Corp’s holdings in Phillips 66 were worth $1,520,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Van ECK Associates Corp lifted its stake in shares of Phillips 66 by 263.3% in the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after buying an additional 60,355 shares in the last quarter. Flavin Financial Services Inc. purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $1,190,000. Everence Capital Management Inc. purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $3,033,000. Donoghue Forlines LLC purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $1,438,000. Finally, Mizuho Securities USA LLC raised its holdings in shares of Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after purchasing an additional 2,467,316 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $125.05 on Thursday. The firm has a fifty day moving average price of $118.94 and a 200-day moving average price of $127.57. 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 cap of $51.64 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) 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 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 firm earned $3.09 earnings per share. Equities analysts anticipate that Phillips 66 will post 7.14 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.68%. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PSX shares. Bank of America started coverage on shares of Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective for the company. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wolfe Research raised shares of 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. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Company 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.