Larson Financial Group LLC Purchases 600 Shares of Phillips 66 (NYSE:PSX)

Larson Financial Group LLC lifted its position in shares of Phillips 66 (NYSE:PSX) by 13.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,133 shares of the oil and gas company’s stock after buying an additional 600 shares during the quarter. Larson Financial Group LLC’s holdings in Phillips 66 were worth $585,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Phillips 66 by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock valued at $69,775,000 after purchasing an additional 14,209 shares during the period. Portside Wealth Group LLC bought a new stake in shares of Phillips 66 in the third quarter valued at approximately $228,000. Summit Global Investments bought a new stake in shares of Phillips 66 in the third quarter valued at approximately $371,000. CWA Asset Management Group LLC acquired a new stake in Phillips 66 during the third quarter worth approximately $244,000. Finally, Verdence Capital Advisors LLC increased its stake in Phillips 66 by 6.2% during the 3rd quarter. Verdence Capital Advisors LLC now owns 9,227 shares of the oil and gas company’s stock worth $1,213,000 after acquiring an additional 537 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

PSX has been the subject of a number of recent analyst reports. 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 research report on Monday, February 3rd. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Mizuho dropped their target price 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. Finally, 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $126.51 on Monday. The company’s 50 day moving average price is $121.76 and its two-hundred day moving average price is $126.25. The firm has a market capitalization of $51.58 billion, a P/E ratio of 25.61, a P/E/G ratio of 4.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08.

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 net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the company posted $3.09 EPS. On average, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 3.64%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is currently 93.12%.

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.