Phillips 66 (NYSE:PSX) Position Increased by SevenBridge Financial Group LLC

SevenBridge Financial Group LLC increased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 11.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,208 shares of the oil and gas company's stock after purchasing an additional 2,851 shares during the quarter. SevenBridge Financial Group LLC's holdings in Phillips 66 were worth $3,100,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. NewEdge Wealth LLC lifted its position in shares of 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 lifted its holdings in Phillips 66 by 0.9% in the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company's stock worth $1,085,000 after acquiring an additional 85 shares during the last quarter. Nwam LLC boosted its stake in Phillips 66 by 2.2% in the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock valued at $442,000 after acquiring an additional 85 shares during the period. Webster Bank N. A. grew its holdings in shares of Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company's stock valued at $31,000 after purchasing an additional 88 shares during the last quarter. Finally, PFG Private Wealth Management LLC raised its position 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 worth $140,000 after purchasing an additional 88 shares during the period. 76.93% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PSX. Wells Fargo & Company upped their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Mizuho dropped their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a report on Monday, December 16th. 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. The Goldman Sachs Group cut shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a research report on Thursday, March 27th. Finally, Piper Sandler cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $146.43.

Phillips 66 Price Performance

NYSE:PSX traded down $8.53 during mid-day trading on Friday, reaching $98.65. 6,420,619 shares of the stock were exchanged, compared to its average volume of 2,807,138. 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 business has a fifty day moving average price of $124.24 and a 200 day moving average price of $125.15. Phillips 66 has a 1-year low of $95.71 and a 1-year high of $174.08. The firm has a market capitalization of $40.22 billion, a PE ratio of 19.97, a PEG ratio of 4.84 and a beta of 1.31.

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 quarter last year, the firm posted $3.09 earnings per share. Research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.66%. Phillips 66's dividend payout ratio (DPR) is presently 93.12%.

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.