Phillips 66 (NYSE:PSX) Stake Lifted by West Tower Group LLC

West Tower Group LLC increased its stake in Phillips 66 (NYSE:PSX) by 72.7% in the 4th quarter, HoldingsChannel reports. The fund owned 3,800 shares of the oil and gas company’s stock after acquiring an additional 1,600 shares during the period. West Tower Group LLC’s holdings in Phillips 66 were worth $433,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PSX. Bogart Wealth LLC boosted its holdings in Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after buying an additional 120 shares in the last quarter. J.Safra Asset Management Corp bought a new stake in Phillips 66 during the fourth quarter worth approximately $25,000. Stephens Consulting LLC boosted its holdings in Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after buying an additional 111 shares in the last quarter. Human Investing LLC bought a new stake in Phillips 66 during the fourth quarter worth approximately $30,000. Finally, Webster Bank N. A. boosted its holdings in Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after buying an additional 88 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Performance

NYSE:PSX opened at $128.34 on Wednesday. Phillips 66 has a 1 year low of $108.91 and a 1 year high of $174.08. The firm’s fifty day simple moving average is $123.37 and its 200 day simple moving average is $125.77. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $52.32 billion, a PE ratio of 25.98, a PEG ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last posted its earnings results 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 net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the business earned $3.09 earnings per share. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.58%. Phillips 66’s dividend payout ratio is 93.12%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PSX. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Mizuho decreased their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. 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 research note on Friday, January 3rd. Finally, Wells Fargo & Company raised their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. 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 stock. According to MarketBeat, Phillips 66 currently has a consensus 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.