Concurrent Investment Advisors LLC Has $2.36 Million Stake in Phillips 66 (NYSE:PSX)

Concurrent Investment Advisors LLC increased its holdings in Phillips 66 (NYSE:PSX) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,679 shares of the oil and gas company’s stock after buying an additional 105 shares during the period. Concurrent Investment Advisors LLC’s holdings in Phillips 66 were worth $2,356,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its position in Phillips 66 by 22.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 118,782 shares of the oil and gas company’s stock valued at $15,614,000 after purchasing an additional 21,840 shares in the last quarter. Values First Advisors Inc. acquired a new position in Phillips 66 during the third quarter valued at approximately $30,000. Rowlandmiller & PARTNERS.ADV raised its position in Phillips 66 by 14.2% during the third quarter. Rowlandmiller & PARTNERS.ADV now owns 10,461 shares of the oil and gas company’s stock valued at $1,375,000 after purchasing an additional 1,300 shares in the last quarter. Nicholson Wealth Management Group LLC acquired a new position in Phillips 66 during the third quarter valued at approximately $672,000. Finally, Cross Staff Investments Inc raised its position in Phillips 66 by 7.0% during the third quarter. Cross Staff Investments Inc now owns 2,363 shares of the oil and gas company’s stock valued at $311,000 after purchasing an additional 154 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $128.78 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The stock has a market cap of $53.18 billion, a price-to-earnings ratio of 26.07, a P/E/G ratio of 4.78 and a beta of 1.37. The company’s fifty day moving average is $119.17 and its 200 day moving average is $127.11.

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. Sell-side analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

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 given a dividend of $1.15 per share. The ex-dividend date is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.57%. Phillips 66’s dividend payout ratio (DPR) is currently 93.12%.

Analyst Upgrades and Downgrades

PSX has been the subject of several research analyst reports. UBS Group lowered their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Barclays lowered their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. 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 report on Monday, December 16th. StockNews.com upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday. Finally, 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 report on Friday, January 3rd. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average price target 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.