Strategic Financial Concepts LLC Purchases New Holdings in Phillips 66 (NYSE:PSX)

Strategic Financial Concepts LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,194 shares of the oil and gas company’s stock, valued at approximately $2,301,000.

A number of other large investors also recently added to or reduced their stakes in PSX. Mizuho Securities USA LLC increased its holdings in Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after purchasing an additional 2,467,316 shares during the last quarter. ING Groep NV increased its stake in shares of Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after acquiring an additional 653,032 shares during the last quarter. Bank of Montreal Can raised its position in shares of Phillips 66 by 63.4% in 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. Mizuho Markets Americas LLC bought a new position in Phillips 66 during the 3rd quarter worth approximately $70,983,000. Finally, Assenagon Asset Management S.A. grew its holdings in Phillips 66 by 73.2% during the third quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock valued at $96,294,000 after purchasing an additional 309,507 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of PSX opened at $128.24 on Tuesday. The company has a market cap of $52.96 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. The firm has a 50-day moving average of $118.74 and a 200-day moving average of $127.19. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. 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 (NYSE:PSX) last posted 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 in the prior year, the firm posted $3.09 EPS. As a group, equities analysts forecast that Phillips 66 will post 7.14 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s payout ratio is presently 93.12%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PSX. Barclays cut their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research note on Friday, January 3rd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, Mizuho cut their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $148.00.

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.