Congress Wealth Management LLC DE Buys 3,092 Shares of Phillips 66 (NYSE:PSX)

Congress Wealth Management LLC DE grew its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,443 shares of the oil and gas company's stock after buying an additional 3,092 shares during the quarter. Congress Wealth Management LLC DE's holdings in Phillips 66 were worth $7,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. NewEdge Wealth LLC raised its position in Phillips 66 by 0.5% in the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock worth $1,732,000 after buying an additional 81 shares during the last quarter. JBR Co Financial Management Inc raised its holdings in shares of Phillips 66 by 0.9% during the fourth 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 purchasing an additional 85 shares during the last quarter. Nwam LLC lifted its position in Phillips 66 by 2.2% during the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock valued at $442,000 after purchasing an additional 85 shares during the period. Webster Bank N. A. raised its stake in Phillips 66 by 48.4% during 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 last quarter. Finally, PFG Private Wealth Management LLC lifted its holdings in shares of Phillips 66 by 7.7% during the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock valued at $140,000 after buying an additional 88 shares during the period. Institutional investors own 76.93% of the company's stock.

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Phillips 66 Price Performance

PSX traded down $3.05 during trading on Friday, hitting $121.67. 2,433,212 shares of the company traded hands, compared to its average volume of 2,784,769. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market cap of $49.60 billion, a PE ratio of 24.63, a P/E/G ratio of 4.84 and a beta of 1.31. The stock's 50-day simple moving average is $124.76 and its two-hundred day simple moving average is $125.52. Phillips 66 has a 1 year low of $108.91 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results 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 return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the firm earned $3.09 earnings per share. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.78%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66's dividend payout ratio is presently 93.12%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PSX. The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective for the company. in a research report on Thursday. Barclays increased their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an "equal weight" rating in a research note on Friday, March 14th. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. 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 report on Friday, January 3rd. Finally, StockNews.com cut shares of Phillips 66 from a "hold" rating to a "sell" rating in a research note on Sunday, March 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.43.

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.