LPL Financial LLC Has $83.68 Million Holdings in Phillips 66 (NYSE:PSX)

LPL Financial LLC raised its holdings in shares of Phillips 66 (NYSE:PSX) by 10.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 734,484 shares of the oil and gas company’s stock after acquiring an additional 67,993 shares during the quarter. LPL Financial LLC’s holdings in Phillips 66 were worth $83,680,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Bogart Wealth LLC grew 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 purchasing an additional 120 shares in the last quarter. J.Safra Asset Management Corp purchased a new position in shares of Phillips 66 during the 4th quarter valued at $25,000. Stephens Consulting LLC increased its stake in shares of Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 111 shares during the last quarter. Human Investing LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth $30,000. Finally, Webster Bank N. A. boosted its position in 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 valued at $31,000 after purchasing an additional 88 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have weighed in on PSX. 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. Barclays increased their price objective on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Finally, Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $147.54.

Phillips 66 Stock Performance

NYSE:PSX opened at $125.43 on Wednesday. The firm has a market capitalization of $51.14 billion, a PE ratio of 25.39, a PEG 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 current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $124.49 and its 200 day simple moving average is $125.56.

Phillips 66 (NYSE:PSX) last issued 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 last year, the company earned $3.09 earnings per share. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.67%. Phillips 66’s dividend 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.