Wilkins Investment Counsel Inc. Purchases 371 Shares of Phillips 66 (NYSE:PSX)

Wilkins Investment Counsel Inc. boosted its position in Phillips 66 (NYSE:PSX) by 2.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,549 shares of the oil and gas company’s stock after acquiring an additional 371 shares during the quarter. Wilkins Investment Counsel Inc.’s holdings in Phillips 66 were worth $1,885,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. increased its stake in Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after acquiring an additional 4,515 shares during the last quarter. Flavin Financial Services Inc. bought a new position in Phillips 66 in the fourth quarter valued at approximately $1,190,000. Everence Capital Management Inc. bought a new position in Phillips 66 in the fourth quarter valued at approximately $3,033,000. Donoghue Forlines LLC bought a new position in Phillips 66 in the fourth quarter valued at approximately $1,438,000. Finally, Smith Group Asset Management LLC bought a new position in Phillips 66 in the fourth quarter valued at approximately $1,149,000. 76.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of research analyst reports. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Barclays raised their target price on shares of Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Wells Fargo & Company raised their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Finally, Mizuho cut their target price 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $149.43.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $129.05 on Thursday. Phillips 66 has a twelve month low of $108.91 and a twelve month high of $174.08. The firm has a fifty day simple moving average of $123.63 and a 200 day simple moving average of $125.79. The company has a market capitalization of $52.61 billion, a PE ratio of 26.12, a P/E/G 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 announced 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 return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the prior year, the company posted $3.09 EPS. On average, sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

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