Strategic Financial Concepts LLC Makes New Investment in Phillips 66 (NYSE:PSX)

Strategic Financial Concepts LLC bought a new position in shares of Phillips 66 (NYSE:PSX) during the 4th quarter, HoldingsChannel reports. The fund bought 20,194 shares of the oil and gas company’s stock, valued at approximately $2,301,000.

A number of other hedge funds also recently modified their holdings of the stock. Allworth Financial LP increased its holdings in Phillips 66 by 19.4% in the 4th quarter. Allworth Financial LP now owns 15,262 shares of the oil and gas company’s stock valued at $1,809,000 after buying an additional 2,484 shares during the period. Principal Securities Inc. increased its stake in Phillips 66 by 3.0% in the fourth quarter. Principal Securities Inc. now owns 16,739 shares of the oil and gas company’s stock valued at $1,907,000 after acquiring an additional 484 shares during the last quarter. Everhart Financial Group Inc. raised its position in Phillips 66 by 3.2% during the fourth quarter. Everhart Financial Group Inc. now owns 3,623 shares of the oil and gas company’s stock valued at $413,000 after purchasing an additional 111 shares in the last quarter. Beacon Capital Management LLC lifted its stake in Phillips 66 by 13.7% during the fourth quarter. Beacon Capital Management LLC now owns 831 shares of the oil and gas company’s stock worth $95,000 after purchasing an additional 100 shares during the last quarter. Finally, Roman Butler Fullerton & Co. boosted its holdings in shares of Phillips 66 by 4.0% in the 4th quarter. Roman Butler Fullerton & Co. now owns 2,786 shares of the oil and gas company’s stock valued at $343,000 after purchasing an additional 107 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 2.1 %

NYSE PSX opened at $128.24 on Tuesday. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. 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 $52.96 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. The business’s 50-day moving average price is $118.74 and its two-hundred day moving average price is $127.19.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS 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 period in the prior year, the firm earned $3.09 earnings per share. On average, analysts expect that Phillips 66 will post 7.14 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.59%. Phillips 66’s payout ratio is 93.12%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PSX shares. Mizuho dropped their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Barclays decreased their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. 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 boosted their target price 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

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.