BKM Wealth Management LLC Has $396,000 Stock Holdings in Phillips 66 (NYSE:PSX)

BKM Wealth Management LLC reduced its position in Phillips 66 (NYSE:PSX) by 22.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 3,473 shares of the oil and gas company’s stock after selling 990 shares during the period. BKM Wealth Management LLC’s holdings in Phillips 66 were worth $396,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Van ECK Associates Corp boosted its stake in shares of Phillips 66 by 263.3% during the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after acquiring an additional 60,355 shares during the period. Flavin Financial Services Inc. bought a new position in Phillips 66 during the fourth quarter worth $1,190,000. Everence Capital Management Inc. acquired a new position in shares of Phillips 66 in the fourth quarter valued at $3,033,000. Donoghue Forlines LLC bought a new position in shares of Phillips 66 in the fourth quarter valued at about $1,438,000. Finally, Mizuho Securities USA LLC lifted its stake in shares of Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after buying an additional 2,467,316 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the topic of several research analyst reports. Mizuho lowered their price target 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. Wolfe Research upgraded 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. Barclays reduced their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Stock Performance

NYSE PSX opened at $128.24 on Tuesday. The firm’s 50 day simple moving average is $118.74 and its 200 day simple moving average is $127.19. The firm has a market capitalization of $52.96 billion, a price-to-earnings ratio of 25.96, a P/E/G ratio of 5.64 and a beta of 1.37. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results 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 period last year, the company posted $3.09 EPS. As a group, research analysts expect that Phillips 66 will post 7.14 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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