Valmark Advisers Inc. Grows Stock Position in Phillips 66 (NYSE:PSX)

Valmark Advisers Inc. boosted its stake in Phillips 66 (NYSE:PSX) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,722 shares of the oil and gas company’s stock after acquiring an additional 101 shares during the quarter. Valmark Advisers Inc.’s holdings in Phillips 66 were worth $766,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSX. Mizuho Securities USA LLC raised its position in shares of Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after purchasing an additional 2,467,316 shares in the last quarter. ING Groep NV raised its position in shares of Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after purchasing an additional 653,032 shares in the last quarter. Bank of Montreal Can raised its position in shares of Phillips 66 by 63.4% in the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after purchasing an additional 633,970 shares in the last quarter. Mizuho Markets Americas LLC acquired a new position in shares of Phillips 66 in the 3rd quarter valued at approximately $70,983,000. Finally, Assenagon Asset Management S.A. raised its position in shares of Phillips 66 by 73.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock valued at $96,294,000 after purchasing an additional 309,507 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wells Fargo & Company upped their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Mizuho dropped their price target 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. UBS Group dropped their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Trading Up 2.1 %

NYSE:PSX opened at $128.24 on Tuesday. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The stock has a market cap of $52.96 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 5.64 and a beta of 1.37. The business has a fifty day moving average of $118.74 and a 200-day moving average of $127.19. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results 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 in the prior year, the firm posted $3.09 earnings per share. Equities analysts predict that Phillips 66 will post 7.14 earnings per share for the current year.

Phillips 66 Announces Dividend

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