ProVise Management Group LLC Buys Shares of 2,098 Phillips 66 (NYSE:PSX)

ProVise Management Group LLC purchased a new stake in Phillips 66 (NYSE:PSX) in the fourth quarter, according to its most recent filing with the SEC. The fund purchased 2,098 shares of the oil and gas company’s stock, valued at approximately $239,000.

Other institutional investors have also made changes to their positions in the company. Bogart Wealth LLC increased its holdings in shares of Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 120 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $25,000. Stephens Consulting LLC increased its holdings in shares of Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 111 shares during the last quarter. Human Investing LLC bought a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $30,000. Finally, Webster Bank N. A. increased its holdings in shares of 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 acquiring an additional 88 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Trading Up 0.5 %

NYSE:PSX opened at $129.05 on Thursday. Phillips 66 has a 1 year low of $108.91 and a 1 year high of $174.08. The stock has a market cap of $52.61 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 4.84 and a beta of 1.31. The business has a fifty day moving average of $123.63 and a 200-day moving average of $125.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results 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 return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the firm posted $3.09 earnings per share. Equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.56%. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of research analyst reports. Barclays boosted their price target on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Wolfe Research upgraded 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. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wells Fargo & Company upped their price objective 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, Mizuho lowered their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.43.

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.