Proficio Capital Partners LLC Invests $16.77 Million in Phillips 66 (NYSE:PSX)

Proficio Capital Partners LLC purchased a new position in shares of Phillips 66 (NYSE:PSX) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 147,203 shares of the oil and gas company’s stock, valued at approximately $16,771,000.

Several other institutional investors have also added to or reduced their stakes in PSX. Bogart Wealth LLC grew its position in shares of Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 120 shares in the last quarter. Stephens Consulting LLC boosted its stake in shares of Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 111 shares during the period. Human Investing LLC acquired a new stake in Phillips 66 during the fourth quarter worth approximately $30,000. Webster Bank N. A. increased its stake in Phillips 66 by 48.4% during the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 88 shares during the period. Finally, YANKCOM Partnership bought a new position in Phillips 66 during the 4th quarter worth $31,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Up 1.9 %

Shares of NYSE:PSX opened at $129.81 on Friday. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The company has a market capitalization of $52.92 billion, a PE ratio of 26.28, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The company has a fifty day moving average of $120.60 and a 200-day moving average of $126.80.

Phillips 66 (NYSE:PSX) last issued its 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 firm posted $3.09 earnings per share. On average, equities analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.54%. Phillips 66’s dividend payout ratio is presently 93.12%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PSX. Barclays reduced their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. UBS Group reduced their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Mizuho cut their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Finally, Wells Fargo & Company lifted their price objective 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

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.