Congress Wealth Management LLC DE Raises Position in Phillips 66 (NYSE:PSX)

Congress Wealth Management LLC DE increased its holdings in Phillips 66 (NYSE:PSX) by 5.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 65,443 shares of the oil and gas company’s stock after purchasing an additional 3,092 shares during the period. Congress Wealth Management LLC DE’s holdings in Phillips 66 were worth $7,456,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Bogart Wealth LLC grew its holdings in Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 120 shares during the period. J.Safra Asset Management Corp acquired a new stake in shares of Phillips 66 in the fourth quarter worth approximately $25,000. Stephens Consulting LLC grew its holdings in Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares during the period. Human Investing LLC acquired a new position in Phillips 66 during the fourth quarter worth approximately $30,000. Finally, Webster Bank N. A. raised its stake 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 worth $31,000 after purchasing an additional 88 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Phillips 66 Trading Down 0.8 %

PSX opened at $125.43 on Wednesday. Phillips 66 has a 12-month low of $108.91 and a 12-month high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock has a market capitalization of $51.14 billion, a PE ratio of 25.39, a P/E/G ratio of 4.84 and a beta of 1.31. The firm’s fifty day moving average price is $124.49 and its 200 day moving average price 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) EPS for the quarter, missing the consensus estimate 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 firm posted $3.09 EPS. As a group, research analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a $1.15 dividend. The ex-dividend date 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 (DPR) is 93.12%.

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.