Three Seasons Wealth LLC Acquires Shares of 3,826 Phillips 66 (NYSE:PSX)

by · The Markets Daily

Three Seasons Wealth LLC bought a new position in shares of Phillips 66 (NYSE:PSX – Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 3,826 shares of the oil and gas company’s stock, valued at approximately $436,000.

Several other institutional investors have also recently made changes to their positions in the company. NewEdge Wealth LLC lifted its position in shares of Phillips 66 by 0.5% during the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock worth $1,732,000 after purchasing an additional 81 shares during the last quarter. JBR Co Financial Management Inc lifted its holdings in Phillips 66 by 0.9% during 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 buying an additional 85 shares in the last quarter. Nwam LLC boosted 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 buying an additional 85 shares during the period. Webster Bank N. A. boosted 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 buying an additional 88 shares during the period. Finally, PFG Private Wealth Management LLC increased its position in shares of Phillips 66 by 7.7% during the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock worth $140,000 after acquiring an additional 88 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on PSX shares. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Barclays cut their price target on Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target for the company. in a report on Thursday, March 27th. Finally, Raymond James lowered their price target on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $140.43.

Get Our Latest Stock Report on PSX

Phillips 66 Trading Up 1.7 %

Shares of Phillips 66 stock opened at $104.49 on Friday. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $158.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock has a market cap of $42.57 billion, a PE ratio of 21.15, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. The firm has a fifty day moving average price of $116.33 and a 200 day moving average price of $121.44.

Phillips 66 (NYSE:PSX – Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. Equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, May 19th. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.59%. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

Phillips 66 Profile

(Free Report)

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.

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