Farther Finance Advisors LLC Increases Position in Phillips 66 (NYSE:PSX)

Farther Finance Advisors LLC raised its holdings in shares of Phillips 66 (NYSE:PSX) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,186 shares of the oil and gas company’s stock after buying an additional 229 shares during the period. Farther Finance Advisors LLC’s holdings in Phillips 66 were worth $933,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Oppenheimer & Co. Inc. boosted its position in shares of Phillips 66 by 10.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after buying an additional 4,515 shares during the period. Flavin Financial Services Inc. bought a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $1,190,000. Everence Capital Management Inc. bought a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $3,033,000. Donoghue Forlines LLC bought a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $1,438,000. Finally, Mizuho Securities USA LLC raised its stake in shares of Phillips 66 by 7,549.0% during 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 in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company lifted their price target 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. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. Finally, Barclays boosted their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $149.43.

Phillips 66 Stock Performance

Shares of PSX stock opened at $126.84 on Friday. The business’s fifty day simple moving average is $122.82 and its 200-day simple moving average is $126.03. The company has a market cap of $51.71 billion, a PE ratio of 25.68, a PEG ratio of 4.84 and a beta of 1.31. 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 12-month low of $108.91 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly 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 return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the company earned $3.09 EPS. Analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

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.