Raymond James Financial Inc. Purchases New Position in Phillips 66 (NYSE:PSX)

Raymond James Financial Inc. acquired a new stake in Phillips 66 (NYSE:PSX - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,481,523 shares of the oil and gas company's stock, valued at approximately $168,790,000. Raymond James Financial Inc. owned about 0.36% of Phillips 66 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PSX. Bogart Wealth LLC grew its position in Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 120 shares during the last quarter. J.Safra Asset Management Corp bought a new position in Phillips 66 in the 4th quarter valued at $25,000. Stephens Consulting LLC grew its position in Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 111 shares during the last quarter. Human Investing LLC bought a new position in Phillips 66 in the 4th quarter valued at $30,000. Finally, Webster Bank N. A. grew 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 acquiring an additional 88 shares during the last quarter. Institutional investors own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. StockNews.com downgraded Phillips 66 from a "hold" rating to a "sell" rating in a research report on Sunday, March 2nd. Wells Fargo & Company increased their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Piper Sandler downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Wolfe Research raised Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective on the stock in a research report on Friday, January 3rd. Finally, Mizuho dropped their price objective on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. One equities 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, the company has an average rating of "Moderate Buy" and a consensus price target of $148.00.

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Phillips 66 Stock Performance

Shares of NYSE:PSX traded up $3.72 during trading on Friday, hitting $126.51. The stock had a trading volume of 3,463,672 shares, compared to its average volume of 2,636,659. Phillips 66 has a 12-month low of $108.91 and a 12-month 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. 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 has a 50-day simple moving average of $121.76 and a two-hundred day simple moving average of $126.31.

Phillips 66 (NYSE:PSX - Get Free Report) last announced 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 return on equity of 8.58% and a net margin of 1.46%. During the same period in the previous year, the firm earned $3.09 earnings per share. On average, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66's 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.