Consolidated Planning Corp Raises Position in Phillips 66 (NYSE:PSX)

Consolidated Planning Corp increased its holdings in Phillips 66 (NYSE:PSX) by 137.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,342 shares of the oil and gas company’s stock after purchasing an additional 7,716 shares during the quarter. Consolidated Planning Corp’s holdings in Phillips 66 were worth $1,520,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Mizuho Securities USA LLC increased its position in shares of Phillips 66 by 7,549.0% in the third 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 acquiring an additional 2,467,316 shares during the period. ING Groep NV increased its position in shares of Phillips 66 by 123.2% in the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after acquiring an additional 653,032 shares during the period. Bank of Montreal Can increased its position in shares of Phillips 66 by 63.4% in the third 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 acquiring an additional 633,970 shares during the period. Mizuho Markets Americas LLC purchased a new position in shares of Phillips 66 in the third quarter valued at about $70,983,000. Finally, Assenagon Asset Management S.A. increased its position in shares of Phillips 66 by 73.2% in the third 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 acquiring an additional 309,507 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Bank of America started coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price objective on the stock. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Trading Down 3.5 %

NYSE:PSX opened at $125.05 on Thursday. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company’s 50-day simple moving average is $118.94 and its 200 day simple moving average is $127.57. The firm has a market capitalization of $51.64 billion, a P/E ratio of 25.31, a PEG ratio of 5.64 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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 return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the prior year, the business posted $3.09 EPS. As a group, analysts forecast that Phillips 66 will post 7.14 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.68%. Phillips 66’s payout ratio is currently 93.12%.

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.