Principal Securities Inc. Buys 484 Shares of Phillips 66 (NYSE:PSX)

Principal Securities Inc. grew its position in Phillips 66 (NYSE:PSX) by 3.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,739 shares of the oil and gas company’s stock after acquiring an additional 484 shares during the quarter. Principal Securities Inc.’s holdings in Phillips 66 were worth $1,907,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. nVerses Capital LLC bought a new stake in Phillips 66 in the third quarter valued at about $26,000. Bogart Wealth LLC boosted its stake in Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 120 shares in the last quarter. Values First Advisors Inc. bought a new stake in shares of Phillips 66 in the 3rd quarter worth about $30,000. Stephens Consulting LLC increased its holdings in shares of Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after buying an additional 111 shares in the last quarter. Finally, Webster Bank N. A. increased its holdings in shares of Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after buying an additional 88 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the topic of several recent analyst reports. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, February 14th. UBS Group lowered their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. Barclays dropped their target price on shares of 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. Finally, Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Trading Up 1.9 %

Shares of NYSE PSX opened at $130.51 on Wednesday. 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 has a twelve month low of $108.90 and a twelve month high of $174.08. The company’s fifty day moving average is $118.70 and its 200-day moving average is $127.10. The stock has a market cap of $53.90 billion, a price-to-earnings ratio of 26.42, a P/E/G ratio of 5.64 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) 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 business posted $3.09 EPS. Equities research analysts predict that Phillips 66 will post 7.14 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s dividend payout ratio is 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.