Flagship Wealth Advisors LLC Makes New $57,000 Investment in Phillips 66 (NYSE:PSX)

Flagship Wealth Advisors LLC bought a new position in shares of Phillips 66 (NYSE:PSX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 500 shares of the oil and gas company’s stock, valued at approximately $57,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cozad Asset Management Inc. boosted its holdings in Phillips 66 by 2.8% during the fourth quarter. Cozad Asset Management Inc. now owns 38,320 shares of the oil and gas company’s stock worth $4,366,000 after buying an additional 1,037 shares during the last quarter. TCTC Holdings LLC raised its position in shares of Phillips 66 by 0.8% during the fourth quarter. TCTC Holdings LLC now owns 161,425 shares of the oil and gas company’s stock worth $18,391,000 after purchasing an additional 1,302 shares during the period. Cibc World Markets Corp raised its position in shares of Phillips 66 by 14.5% during the fourth quarter. Cibc World Markets Corp now owns 65,428 shares of the oil and gas company’s stock worth $7,454,000 after purchasing an additional 8,271 shares during the period. GWN Securities Inc. acquired a new stake in shares of Phillips 66 during the fourth quarter worth about $815,000. Finally, Glenview Trust co raised its position in shares of Phillips 66 by 6.2% during the fourth quarter. Glenview Trust co now owns 9,168 shares of the oil and gas company’s stock worth $1,045,000 after purchasing an additional 538 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PSX. Mizuho dropped their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Wells Fargo & Company raised their price target on 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 lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Barclays lifted their target price on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research report on Friday. Finally, Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $149.43.

Phillips 66 Stock Performance

PSX opened at $129.27 on Tuesday. The business has a fifty day simple moving average of $123.11 and a 200 day simple moving average of $125.85. The company has a market capitalization of $52.70 billion, a PE ratio of 26.17, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. Phillips 66 has a 1 year low of $108.91 and a 1 year high of $174.08. 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 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) 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 in the prior year, the company earned $3.09 earnings per share. Research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.56%. Phillips 66’s dividend payout ratio (DPR) is presently 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.