Phillips 66 (NYSE:PSX) Shares Acquired by Naviter Wealth LLC

Naviter Wealth LLC lifted its position in Phillips 66 (NYSE:PSX) by 118.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,253 shares of the oil and gas company’s stock after purchasing an additional 5,022 shares during the quarter. Naviter Wealth LLC’s holdings in Phillips 66 were worth $1,054,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in PSX. Principal Financial Group Inc. grew its position in shares of Phillips 66 by 2.8% during the third quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock worth $69,775,000 after acquiring an additional 14,209 shares during the last quarter. Portside Wealth Group LLC purchased a new position in Phillips 66 during the 3rd quarter worth $228,000. Summit Global Investments acquired a new position in Phillips 66 in the third quarter valued at $371,000. AIA Group Ltd increased its stake in Phillips 66 by 9.1% in the third quarter. AIA Group Ltd now owns 9,600 shares of the oil and gas company’s stock valued at $1,262,000 after purchasing an additional 800 shares during the period. Finally, Leavell Investment Management Inc. raised its holdings in shares of Phillips 66 by 4.7% in the third quarter. Leavell Investment Management Inc. now owns 60,440 shares of the oil and gas company’s stock valued at $7,945,000 after buying an additional 2,725 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $126.51 on Friday. The company has a market capitalization of $51.58 billion, a PE ratio of 25.61, a P/E/G ratio of 4.84 and a beta of 1.31. Phillips 66 has a 52-week low of $108.91 and a 52-week high of $174.08. The company has a 50-day simple moving average of $121.76 and a 200-day simple moving average of $126.31. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its 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 quarter in the previous year, the firm earned $3.09 earnings per share. Equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a dividend of $1.15 per share. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.64%. Phillips 66’s dividend payout ratio is presently 93.12%.

Wall Street Analyst Weigh In

PSX has been the topic of a number of research reports. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Mizuho cut their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Barclays cut their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.