Phillips 66 (NYSE:PSX) Shares Purchased by TFC Financial Management Inc.

TFC Financial Management Inc. grew its holdings in shares of Phillips 66 (NYSE:PSX) by 266.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 787 shares of the oil and gas company’s stock after purchasing an additional 572 shares during the period. TFC Financial Management Inc.’s holdings in Phillips 66 were worth $90,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PSX. Krane Funds Advisors LLC increased its stake in shares of Phillips 66 by 3.6% during the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after buying an additional 82 shares during the period. Webster Bank N. A. lifted its holdings in shares of 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. Cobblestone Capital Advisors LLC NY raised its position in Phillips 66 by 0.5% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock worth $2,307,000 after acquiring an additional 89 shares in the last quarter. Western Financial Corp CA raised its position in Phillips 66 by 1.6% in the third quarter. Western Financial Corp CA now owns 5,882 shares of the oil and gas company’s stock worth $773,000 after acquiring an additional 91 shares in the last quarter. Finally, Avestar Capital LLC raised its position in Phillips 66 by 5.1% in the third quarter. Avestar Capital LLC now owns 1,885 shares of the oil and gas company’s stock worth $248,000 after acquiring an additional 92 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 3.5 %

Shares of PSX opened at $125.05 on Thursday. The stock has a 50 day simple moving average of $118.94 and a 200-day simple moving average of $127.57. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The stock has a market cap of $51.64 billion, a PE ratio of 25.31, a PEG ratio of 5.64 and a beta of 1.37. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted 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 return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the business earned $3.09 earnings per share. On average, sell-side analysts predict that Phillips 66 will post 7.14 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.68%. Phillips 66’s payout ratio is currently 93.12%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PSX. Wells Fargo & Company raised their price target on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Barclays decreased their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research note on Wednesday, February 5th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. Finally, Bank of America started coverage on Phillips 66 in a report on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $148.00.

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.