Glenview Trust co Purchases 538 Shares of Phillips 66 (NYSE:PSX)

Glenview Trust co raised its stake in Phillips 66 (NYSE:PSX) by 6.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,168 shares of the oil and gas company’s stock after acquiring an additional 538 shares during the quarter. Glenview Trust co’s holdings in Phillips 66 were worth $1,045,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. NewEdge Wealth LLC increased its position in Phillips 66 by 0.5% in the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock valued at $1,732,000 after acquiring an additional 81 shares in the last quarter. JBR Co Financial Management Inc increased its position in Phillips 66 by 0.9% in the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock valued at $1,085,000 after acquiring an additional 85 shares in the last quarter. Nwam LLC increased its position in Phillips 66 by 2.2% in the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock valued at $442,000 after acquiring an additional 85 shares in the last quarter. Webster Bank N. A. increased its position in Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 88 shares in the last quarter. Finally, PFG Private Wealth Management LLC increased its position in Phillips 66 by 7.7% in the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock valued at $140,000 after acquiring an additional 88 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Up 2.0 %

Shares of NYSE PSX opened at $129.27 on Tuesday. The stock has a market cap of $52.70 billion, a P/E ratio of 26.17, a P/E/G ratio of 4.84 and a beta of 1.31. The firm has a 50 day moving average price of $123.11 and a 200 day moving average price of $125.85. 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 52-week low of $108.91 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 for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the business posted $3.09 earnings per share. Analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is currently 93.12%.

Analyst Ratings Changes

PSX has been the subject of several research reports. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. Wells Fargo & Company lifted their price target 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. Mizuho lowered their price target 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. Finally, StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.43.

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.