Whipplewood Advisors LLC Makes New $46,000 Investment in Phillips 66 (NYSE:PSX)

Whipplewood Advisors LLC bought a new position in Phillips 66 (NYSE:PSX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 401 shares of the oil and gas company’s stock, valued at approximately $46,000.

Several other institutional investors and hedge funds also recently modified their holdings of PSX. Pallas Capital Advisors LLC boosted its position in shares of Phillips 66 by 14.5% in the third quarter. Pallas Capital Advisors LLC now owns 2,284 shares of the oil and gas company’s stock worth $294,000 after buying an additional 289 shares during the period. Diversify Advisory Services LLC boosted its position in shares of Phillips 66 by 35.2% in the third quarter. Diversify Advisory Services LLC now owns 2,878 shares of the oil and gas company’s stock worth $378,000 after buying an additional 750 shares during the period. Mutual Advisors LLC boosted its position in shares of Phillips 66 by 63.7% in the third quarter. Mutual Advisors LLC now owns 14,551 shares of the oil and gas company’s stock worth $1,870,000 after buying an additional 5,663 shares during the period. Pinnacle Associates Ltd. boosted its position in shares of Phillips 66 by 0.9% in the third quarter. Pinnacle Associates Ltd. now owns 34,961 shares of the oil and gas company’s stock worth $4,655,000 after buying an additional 306 shares during the period. Finally, Financial Advocates Investment Management boosted its position in shares of Phillips 66 by 2.7% in the third quarter. Financial Advocates Investment Management now owns 10,806 shares of the oil and gas company’s stock worth $1,420,000 after buying an additional 286 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on PSX. Wells Fargo & Company increased their price target on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. StockNews.com upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday, February 22nd. Finally, Barclays lowered their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Price Performance

Shares of PSX opened at $129.81 on Friday. The firm has a market cap of $52.92 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 4.84 and a beta of 1.37. The stock has a 50 day moving average of $120.60 and a 200-day moving average of $126.86. 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 has a 52 week low of $108.90 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last announced 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 company posted $3.09 earnings per share. As a group, analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business 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 $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

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.