Gallagher Capital Advisors LLC Acquires Shares of 1,817 Phillips 66 (NYSE:PSX)

Gallagher Capital Advisors LLC bought a new position in Phillips 66 (NYSE:PSX) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,817 shares of the oil and gas company’s stock, valued at approximately $207,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PSX. Oppenheimer & Co. Inc. increased its position in Phillips 66 by 10.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after purchasing an additional 4,515 shares during the period. Flavin Financial Services Inc. acquired a new position in Phillips 66 during the fourth quarter worth $1,190,000. Everence Capital Management Inc. purchased a new position in Phillips 66 in the fourth quarter worth $3,033,000. Donoghue Forlines LLC acquired a new stake in Phillips 66 in the fourth quarter valued at $1,438,000. Finally, Mizuho Securities USA LLC boosted its position 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 purchasing an additional 2,467,316 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 3.0 %

Shares of PSX opened at $126.51 on Monday. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08. The company’s fifty day moving average is $121.76 and its two-hundred day moving average is $126.25. The firm has a market cap of $51.58 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. 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 issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the firm posted $3.09 earnings per share. Analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently announced 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 3.64%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is currently 93.12%.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Barclays reduced their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, Wells Fargo & Company upped their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. One investment 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Company 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.