Uniting Wealth Partners LLC Purchases New Stake in Phillips 66 (NYSE:PSX)

Uniting Wealth Partners LLC acquired a new position in shares of Phillips 66 (NYSE:PSX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,399 shares of the oil and gas company’s stock, valued at approximately $387,000.

A number of other large investors also recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd bought a new position in Phillips 66 during the 3rd quarter worth approximately $40,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Phillips 66 during the third quarter worth $292,000. Benjamin Edwards Inc. grew its holdings in shares of Phillips 66 by 557.0% in the 3rd quarter. Benjamin Edwards Inc. now owns 30,072 shares of the oil and gas company’s stock valued at $3,954,000 after buying an additional 25,495 shares during the period. Holocene Advisors LP bought a new stake in shares of Phillips 66 in the 3rd quarter valued at $6,386,000. Finally, Janus Henderson Group PLC raised its stake in Phillips 66 by 359.5% during the 3rd quarter. Janus Henderson Group PLC now owns 228,165 shares of the oil and gas company’s stock worth $29,992,000 after buying an additional 178,515 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Down 0.2 %

Shares of Phillips 66 stock opened at $124.11 on Thursday. The stock has a market cap of $50.60 billion, a P/E ratio of 25.12, 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 has a 12-month low of $108.91 and a 12-month high of $174.08. The business’s 50 day moving average is $125.02 and its 200-day moving average is $125.48.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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 last year, the firm posted $3.09 earnings per share. Equities research 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. Shareholders of record on Monday, February 24th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.71%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Wall Street Analysts Forecast Growth

PSX has been the subject of several recent analyst reports. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. Mizuho lowered their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. The Goldman Sachs Group downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a research report on Thursday, March 27th. Finally, Barclays boosted their price objective 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. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $146.43.

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.