Empower Advisory Group LLC Purchases 279 Shares of Phillips 66 (NYSE:PSX)

Empower Advisory Group LLC increased its position in Phillips 66 (NYSE:PSX) by 11.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,742 shares of the oil and gas company’s stock after acquiring an additional 279 shares during the quarter. Empower Advisory Group LLC’s holdings in Phillips 66 were worth $312,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of PSX. nVerses Capital LLC bought a new position in shares of Phillips 66 in the third quarter valued at approximately $26,000. Allspring Global Investments Holdings LLC boosted its position in shares of Phillips 66 by 22.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 118,782 shares of the oil and gas company’s stock valued at $15,614,000 after acquiring an additional 21,840 shares during the period. Oakworth Capital Inc. boosted its position in shares of Phillips 66 by 36.5% in the third quarter. Oakworth Capital Inc. now owns 1,660 shares of the oil and gas company’s stock valued at $218,000 after acquiring an additional 444 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Phillips 66 by 40.2% in the third quarter. Sequoia Financial Advisors LLC now owns 28,296 shares of the oil and gas company’s stock valued at $3,720,000 after acquiring an additional 8,110 shares during the period. Finally, Eastern Bank bought a new position in shares of Phillips 66 in the third quarter valued at approximately $348,000. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Trading Down 0.1 %

Shares of PSX opened at $130.12 on Thursday. The firm has a market cap of $53.74 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 4.71 and a beta of 1.37. 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 fifty-two week low of $108.90 and a fifty-two week high of $174.08. The firm has a 50 day moving average price of $118.90 and a 200-day moving average price of $127.10.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data 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 business earned $3.09 earnings per share. As a group, equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PSX shares. Barclays dropped their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Mizuho dropped their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. 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 report on Monday, February 3rd. Finally, Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Company 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.