Raymond James Financial Inc. Makes New Investment in Phillips 66 (NYSE:PSX)

Raymond James Financial Inc. acquired a new position in shares of Phillips 66 (NYSE:PSX) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 1,481,523 shares of the oil and gas company’s stock, valued at approximately $168,790,000. Raymond James Financial Inc. owned approximately 0.36% of Phillips 66 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PSX. Radnor Capital Management LLC purchased a new stake in Phillips 66 during the 3rd quarter worth approximately $282,000. Principal Financial Group Inc. boosted its holdings in shares of Phillips 66 by 2.8% during the 3rd quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock worth $69,775,000 after purchasing an additional 14,209 shares during the last quarter. Kornitzer Capital Management Inc. KS boosted its holdings in shares of Phillips 66 by 0.4% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 52,216 shares of the oil and gas company’s stock worth $6,864,000 after purchasing an additional 191 shares during the last quarter. Consolidated Planning Corp boosted its holdings in shares of Phillips 66 by 93.6% during the 3rd quarter. Consolidated Planning Corp now owns 5,626 shares of the oil and gas company’s stock worth $740,000 after purchasing an additional 2,720 shares during the last quarter. Finally, Portside Wealth Group LLC acquired a new position in shares of Phillips 66 during the 3rd quarter worth approximately $228,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 3.0 %

NYSE:PSX opened at $126.51 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. The stock’s fifty day moving average is $121.76 and its two-hundred day moving average is $126.35. Phillips 66 has a 52 week low of $108.91 and a 52 week high of $174.08. The stock has a market capitalization of $51.58 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth 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) EPS for the quarter, missing analysts’ consensus estimates 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 period last year, the firm earned $3.09 EPS. Research analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PSX shares. Wells Fargo & Company boosted their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Barclays lowered their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Mizuho lowered their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus 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.