Flagship Wealth Advisors LLC Takes Position in Phillips 66 (NYSE:PSX)

Flagship Wealth Advisors LLC bought a new stake in shares of Phillips 66 (NYSE:PSX) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 500 shares of the oil and gas company’s stock, valued at approximately $57,000.

A number of other institutional investors have also recently modified their holdings of PSX. Raymond James Financial Inc. bought a new stake in shares of Phillips 66 during the 4th quarter valued at $168,790,000. Amundi lifted its position in shares of Phillips 66 by 25.7% during the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock valued at $428,081,000 after acquiring an additional 753,653 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Phillips 66 by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock valued at $1,064,601,000 after acquiring an additional 639,323 shares during the period. Bank of Montreal Can lifted its position in shares of Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after acquiring an additional 633,970 shares during the period. Finally, Weiss Asset Management LP acquired a new position in shares of Phillips 66 during the 3rd quarter worth $34,042,000. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PSX has been the subject of a number of research analyst reports. Barclays boosted their price target on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wolfe Research raised 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. Finally, Mizuho lowered their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.43.

Phillips 66 Price Performance

NYSE:PSX opened at $129.27 on Tuesday. The stock has a fifty day moving average of $123.11 and a 200 day moving average of $125.85. 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. The firm has a market capitalization of $52.70 billion, a price-to-earnings ratio of 26.17, a P/E/G ratio of 4.84 and a beta of 1.31.

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 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 company posted $3.09 EPS. On average, research analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

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