Inceptionr LLC Purchases 1,828 Shares of Phillips 66 (NYSE:PSX)

Inceptionr LLC grew its stake in shares of Phillips 66 (NYSE:PSX) by 64.7% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,653 shares of the oil and gas company’s stock after buying an additional 1,828 shares during the period. Inceptionr LLC’s holdings in Phillips 66 were worth $530,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in PSX. NewEdge Wealth LLC lifted its position in Phillips 66 by 0.5% during the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock worth $1,732,000 after buying an additional 81 shares in the last quarter. JBR Co Financial Management Inc raised its holdings in shares of 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 purchasing an additional 85 shares during the period. Nwam LLC raised its holdings in shares of 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 purchasing an additional 85 shares during the period. Webster Bank N. A. raised its holdings in shares of 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 purchasing an additional 88 shares during the period. Finally, Cobblestone Capital Advisors LLC NY raised its holdings in shares of Phillips 66 by 0.5% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock valued at $2,307,000 after purchasing an additional 89 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on PSX shares. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Barclays decreased their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, Mizuho dropped their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Price Performance

PSX stock opened at $126.51 on Friday. The company has a fifty day moving average price of $121.76 and a 200-day moving average price of $126.31. The company has a market capitalization of $51.58 billion, a P/E ratio of 25.61, a PEG ratio of 4.84 and a beta of 1.31. Phillips 66 has a 52-week low of $108.91 and a 52-week high of $174.08. 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 (NYSE:PSX) last released 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 net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the company posted $3.09 EPS. As a group, equities analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders 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 3.64%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio is 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.