Pacific Heights Asset Management LLC Buys 75,000 Shares of Phillips 66 (NYSE:PSX)

Pacific Heights Asset Management LLC boosted its position in shares of Phillips 66 (NYSE:PSX) by 100.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,000 shares of the oil and gas company’s stock after acquiring an additional 75,000 shares during the period. Phillips 66 accounts for about 1.0% of Pacific Heights Asset Management LLC’s holdings, making the stock its 29th biggest position. Pacific Heights Asset Management LLC’s holdings in Phillips 66 were worth $15,855,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bogart Wealth LLC increased its holdings in shares of Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 120 shares during the period. J.Safra Asset Management Corp bought a new position in Phillips 66 in the 4th quarter worth about $25,000. Stephens Consulting LLC grew its holdings in shares of 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 purchasing an additional 111 shares in the last quarter. Human Investing LLC purchased a new position in Phillips 66 in the 4th quarter worth 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 worth $31,000 after buying an additional 88 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $122.72 on Friday. The firm has a market cap of $50.03 billion, a PE ratio of 24.84, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37. The company’s fifty day simple moving average is $121.49 and its two-hundred day simple moving average is $126.44. 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 12-month low of $108.91 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly 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 period in the previous year, the company posted $3.09 EPS. As a group, equities analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on PSX shares. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. 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 report on Friday, January 3rd. Barclays reduced their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Mizuho dropped their target price 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. Finally, Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

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.