Mystic Asset Management Inc. Purchases 1,247 Shares of Phillips 66 (NYSE:PSX)

Mystic Asset Management Inc. boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 17.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,236 shares of the oil and gas company’s stock after purchasing an additional 1,247 shares during the period. Mystic Asset Management Inc.’s holdings in Phillips 66 were worth $938,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Glass Wealth Management Co LLC lifted its holdings in shares of Phillips 66 by 4.4% in the third quarter. Glass Wealth Management Co LLC now owns 30,739 shares of the oil and gas company’s stock worth $4,041,000 after acquiring an additional 1,295 shares during the last quarter. TrinityPoint Wealth LLC increased its position in Phillips 66 by 2.4% during the 3rd quarter. TrinityPoint Wealth LLC now owns 5,312 shares of the oil and gas company’s stock worth $698,000 after purchasing an additional 122 shares in the last quarter. Aljian Capital Management LLC bought a new position in Phillips 66 in the 3rd quarter valued at approximately $331,000. Islay Capital Management LLC boosted its position in Phillips 66 by 6.5% in the third quarter. Islay Capital Management LLC now owns 4,935 shares of the oil and gas company’s stock valued at $649,000 after buying an additional 300 shares in the last quarter. Finally, Quest Partners LLC increased its holdings in shares of Phillips 66 by 324,800.0% during the third quarter. Quest Partners LLC now owns 3,249 shares of the oil and gas company’s stock worth $427,000 after buying an additional 3,248 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. 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. Barclays lifted their target price on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday. Wells Fargo & Company upped their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $149.43.

Phillips 66 Stock Performance

Shares of PSX stock opened at $129.27 on Tuesday. The firm has a 50 day moving average of $123.11 and a 200-day moving average of $125.85. The company has a market cap of $52.70 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 52 week low of $108.91 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 prior year, the company earned $3.09 earnings per share. On average, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

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

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.