Proficio Capital Partners LLC Purchases New Stake in Phillips 66 (NYSE:PSX)

Proficio Capital Partners LLC bought a new position in shares of Phillips 66 (NYSE:PSX) during the fourth quarter, Holdings Channel reports. The institutional investor bought 147,203 shares of the oil and gas company’s stock, valued at approximately $16,771,000.

A number of other institutional investors and hedge funds also recently modified their holdings of PSX. Bogart Wealth LLC raised its holdings in shares of Phillips 66 by 120.0% during 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 acquired a new stake in shares of Phillips 66 during the fourth quarter worth $25,000. Stephens Consulting LLC raised 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 during the period. Human Investing LLC acquired a new stake in shares of Phillips 66 during the fourth quarter worth $30,000. Finally, Webster Bank N. A. raised its holdings in shares of 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 worth $31,000 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

NYSE:PSX opened at $126.84 on Friday. Phillips 66 has a twelve month low of $108.91 and a twelve 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 company has a 50-day moving average of $122.82 and a 200-day moving average of $126.03. The firm has a market cap of $51.71 billion, a price-to-earnings ratio of 25.68, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31.

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 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 business posted $3.09 EPS. Analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $1.15 per share. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.63%. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PSX. Mizuho dropped their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Finally, Barclays upped their price target 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. One 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 company presently has a consensus rating of “Moderate Buy” and an average price target of $149.43.

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.