Uniting Wealth Partners LLC Invests $387,000 in Phillips 66 (NYSE:PSX)

Uniting Wealth Partners LLC purchased a new stake in Phillips 66 (NYSE:PSX) during the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 3,399 shares of the oil and gas company’s stock, valued at approximately $387,000.

Other hedge funds have also bought and sold shares of the company. Norges Bank acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $497,648,000. Raymond James Financial Inc. acquired a new stake in Phillips 66 during the fourth quarter worth approximately $168,790,000. Amundi increased its stake in Phillips 66 by 25.7% during the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after acquiring an additional 753,653 shares during the period. National Bank of Canada FI raised its holdings in Phillips 66 by 166.7% in the 4th quarter. National Bank of Canada FI now owns 1,134,582 shares of the oil and gas company’s stock valued at $129,266,000 after acquiring an additional 709,219 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Phillips 66 by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock valued at $1,064,601,000 after acquiring an additional 639,323 shares during the period. 76.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. The Goldman Sachs Group cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price for the company. in a research report on Thursday, March 27th. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Wells Fargo & Company upped their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Barclays lifted their price target on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $146.43.

Phillips 66 Stock Down 0.2 %

NYSE:PSX opened at $124.11 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a one year low of $108.91 and a one year high of $174.08. The firm’s 50 day simple moving average is $125.02 and its 200 day simple moving average is $125.48. The company has a market cap of $50.60 billion, a PE ratio of 25.12, a P/E/G ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 earnings per share. On average, research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio is currently 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.