Pathway Financial Advisers LLC Boosts Holdings in Phillips 66 (NYSE:PSX)

Pathway Financial Advisers LLC boosted its stake in shares of Phillips 66 (NYSE:PSX) by 1.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,711 shares of the oil and gas company’s stock after purchasing an additional 222 shares during the period. Pathway Financial Advisers LLC’s holdings in Phillips 66 were worth $1,334,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Avestar Capital LLC boosted its stake in shares of Phillips 66 by 6.3% in the fourth quarter. Avestar Capital LLC now owns 2,004 shares of the oil and gas company’s stock worth $228,000 after buying an additional 119 shares during the last quarter. TFC Financial Management Inc. lifted its holdings in Phillips 66 by 266.0% in the fourth quarter. TFC Financial Management Inc. now owns 787 shares of the oil and gas company’s stock valued at $90,000 after acquiring an additional 572 shares during the period. Consolidated Planning Corp boosted its position in Phillips 66 by 137.1% in the 4th quarter. Consolidated Planning Corp now owns 13,342 shares of the oil and gas company’s stock worth $1,520,000 after purchasing an additional 7,716 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Phillips 66 by 192.4% during the 4th quarter. Van ECK Associates Corp now owns 243,534 shares of the oil and gas company’s stock worth $27,746,000 after purchasing an additional 160,256 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Phillips 66 by 1.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 120,122 shares of the oil and gas company’s stock valued at $13,743,000 after purchasing an additional 1,340 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Phillips 66 stock opened at $125.05 on Thursday. The company’s 50 day simple moving average is $118.83 and its 200-day simple moving average is $127.55. 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 1 year low of $108.90 and a 1 year high of $174.08. The company has a market capitalization of $51.64 billion, a price-to-earnings ratio of 25.31, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS 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 period in the previous year, the firm earned $3.09 EPS. As a group, equities research analysts expect that Phillips 66 will post 7.14 earnings per share for the current year.

Phillips 66 Announces Dividend

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

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of recent analyst reports. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Bank of America assumed coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 target price on the stock. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research report on Wednesday, February 5th. UBS Group dropped their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Finally, Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

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.