Wealthfront Advisers LLC Purchases 89,902 Shares of Phillips 66 (NYSE:PSX)

Wealthfront Advisers LLC raised its stake in Phillips 66 (NYSE:PSX) by 173.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 141,859 shares of the oil and gas company’s stock after buying an additional 89,902 shares during the period. Wealthfront Advisers LLC’s holdings in Phillips 66 were worth $16,162,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. Bogart Wealth LLC raised its position in Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 120 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in Phillips 66 in the fourth quarter valued at approximately $25,000. Stephens Consulting LLC increased its stake in Phillips 66 by 83.5% during the 4th 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 during the period. Human Investing LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth $30,000. Finally, Webster Bank N. A. increased its stake 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 during the period. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the stock. Mizuho lowered their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. 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 note on Friday, January 3rd. Barclays cut their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Wells Fargo & Company boosted their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Trading Down 2.0 %

PSX stock opened at $123.66 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a one year low of $108.91 and a one year high of $174.08. The company’s 50 day moving average price is $122.25 and its two-hundred day moving average price is $126.12. The company has a market capitalization of $50.42 billion, a PE ratio of 25.03, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last posted its 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 quarter in the prior year, the firm posted $3.09 EPS. As a group, analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date was Monday, February 24th. Phillips 66’s 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.