Crowley Wealth Management Inc. Acquires New Shares in Phillips 66 (NYSE:PSX)

Crowley Wealth Management Inc. acquired a new stake in shares of Phillips 66 (NYSE:PSX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 455 shares of the oil and gas company’s stock, valued at approximately $52,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bogart Wealth LLC boosted its position in Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 120 shares during the period. J.Safra Asset Management Corp bought a new stake in Phillips 66 during the 4th quarter valued at $25,000. Stephens Consulting LLC raised 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 valued at $28,000 after acquiring an additional 111 shares in the last quarter. Human Investing LLC bought a new stake in Phillips 66 during the 4th quarter valued at $30,000. Finally, Webster Bank N. A. raised its stake in Phillips 66 by 48.4% during the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 88 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $125.51 on Monday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $51.17 billion, a price-to-earnings ratio of 25.41, a PEG ratio of 4.84 and a beta of 1.31. The stock’s fifty day simple moving average is $124.11 and its 200 day simple moving average is $125.60. Phillips 66 has a 52-week low of $108.91 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) 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 period last year, the firm earned $3.09 earnings per share. As a group, sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm 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. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.67%. Phillips 66’s dividend payout ratio is 93.12%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PSX shares. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Wells Fargo & Company lifted their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Mizuho dropped their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $147.54.

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.