LPL Financial LLC Increases Position in Phillips 66 (NYSE:PSX)

LPL Financial LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 10.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 734,484 shares of the oil and gas company’s stock after purchasing an additional 67,993 shares during the quarter. LPL Financial LLC owned approximately 0.18% of Phillips 66 worth $83,680,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. NewEdge Wealth LLC lifted its position in shares of Phillips 66 by 0.5% during the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock worth $1,732,000 after purchasing an additional 81 shares during the last quarter. JBR Co Financial Management Inc increased its holdings in shares of Phillips 66 by 0.9% in the 4th 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 acquiring an additional 85 shares during the last quarter. Nwam LLC boosted its holdings in Phillips 66 by 2.2% in the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock worth $442,000 after purchasing an additional 85 shares during the period. Webster Bank N. A. increased its stake 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 valued at $31,000 after purchasing an additional 88 shares during the last quarter. Finally, PFG Private Wealth Management LLC raised its holdings in shares of Phillips 66 by 7.7% during the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock worth $140,000 after purchasing an additional 88 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $125.43 on Wednesday. Phillips 66 has a 52-week low of $108.91 and a 52-week high of $174.08. The stock has a market capitalization of $51.14 billion, a price-to-earnings ratio of 25.39, a PEG 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. The stock’s fifty day simple moving average is $124.49 and its 200 day simple moving average is $125.56.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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 last year, the company posted $3.09 EPS. As a group, sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.67%. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Analyst Ratings Changes

A number of equities analysts have commented on PSX shares. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Mizuho dropped their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Wells Fargo & Company boosted their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $147.54.

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.