Phillips 66 (NYSE:PSX) Shares Acquired by West Tower Group LLC

West Tower Group LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 72.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,800 shares of the oil and gas company’s stock after buying an additional 1,600 shares during the period. West Tower Group LLC’s holdings in Phillips 66 were worth $433,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. TrinityPoint Wealth LLC increased its holdings in shares of Phillips 66 by 2.4% during the 3rd quarter. TrinityPoint Wealth LLC now owns 5,312 shares of the oil and gas company’s stock worth $698,000 after buying an additional 122 shares during the last quarter. Quest Partners LLC boosted its position in Phillips 66 by 324,800.0% during the 3rd quarter. Quest Partners LLC now owns 3,249 shares of the oil and gas company’s stock worth $427,000 after purchasing an additional 3,248 shares during the period. Meeder Advisory Services Inc. boosted its position in Phillips 66 by 4.7% during the 3rd quarter. Meeder Advisory Services Inc. now owns 10,013 shares of the oil and gas company’s stock worth $1,316,000 after purchasing an additional 449 shares during the period. Caprock Group LLC boosted its position in Phillips 66 by 1.3% during the 3rd quarter. Caprock Group LLC now owns 9,694 shares of the oil and gas company’s stock worth $1,274,000 after purchasing an additional 127 shares during the period. Finally, OneAscent Financial Services LLC purchased a new stake in Phillips 66 during the 3rd quarter worth $359,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research reports. Mizuho decreased their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Wells Fargo & Company upped their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Barclays upped their price target on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Finally, Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average target price of $149.43.

Phillips 66 Price Performance

PSX opened at $128.34 on Wednesday. The firm has a market cap of $52.32 billion, a price-to-earnings ratio of 25.98, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08. The company’s 50-day moving average price is $123.37 and its 200 day moving average price is $125.77. 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 released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 last year, the business posted $3.09 EPS. As a group, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.58%. Phillips 66’s payout ratio is currently 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.