Empire Financial Management Company LLC Buys 125 Shares of Phillips 66 (NYSE:PSX)

Empire Financial Management Company LLC increased its stake in shares of Phillips 66 (NYSE:PSX) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,571 shares of the oil and gas company’s stock after buying an additional 125 shares during the quarter. Empire Financial Management Company LLC’s holdings in Phillips 66 were worth $407,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock worth $686,618,000 after acquiring an additional 4,455,220 shares during the period. Norges Bank purchased a new position in shares of Phillips 66 in the 4th quarter worth about $497,648,000. Raymond James Financial Inc. purchased a new stake in Phillips 66 during the fourth quarter worth about $168,790,000. Amundi boosted its stake in Phillips 66 by 25.7% in the fourth 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 last quarter. Finally, National Bank of Canada FI increased its stake in shares of Phillips 66 by 166.7% during the 4th quarter. National Bank of Canada FI now owns 1,134,582 shares of the oil and gas company’s stock worth $129,266,000 after purchasing an additional 709,219 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. The Goldman Sachs Group cut Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target on the stock. in a research report on Thursday, March 27th. Wells Fargo & Company lifted their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Scotiabank dropped their price objective on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Finally, Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.00.

Phillips 66 Stock Up 1.9 %

Shares of NYSE:PSX opened at $102.80 on Thursday. The firm has a fifty day moving average price of $116.80 and a two-hundred day moving average price of $121.67. The company has a market cap of $41.88 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 4.84 and a beta of 1.17. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a one year low of $91.01 and a one year high of $158.38.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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 period in the prior year, the business posted $3.09 EPS. Analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 4.67%. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date is Monday, May 19th. Phillips 66’s dividend payout ratio is 93.12%.

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.