Greenup Street Wealth Management LLC Makes New $295,000 Investment in Phillips 66 (NYSE:PSX)

Greenup Street Wealth Management LLC bought a new position in shares of Phillips 66 (NYSE:PSXFree Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,219 shares of the oil and gas company’s stock, valued at approximately $295,000.

A number of other hedge funds have also made changes to their positions in PSX. Nvwm LLC raised its holdings in Phillips 66 by 0.9% during the fourth quarter. Nvwm LLC now owns 8,286 shares of the oil and gas company’s stock worth $1,103,000 after purchasing an additional 75 shares in the last quarter. Cardinal Capital Management lifted its position in Phillips 66 by 0.3% in the fourth quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company’s stock valued at $3,104,000 after acquiring an additional 77 shares during the last quarter. Aaron Wealth Advisors LLC boosted its stake in Phillips 66 by 3.6% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company’s stock valued at $312,000 after acquiring an additional 82 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in shares of Phillips 66 by 3.9% during the fourth quarter. Benjamin Edwards Inc. now owns 2,271 shares of the oil and gas company’s stock worth $302,000 after purchasing an additional 85 shares during the last quarter. Finally, Cornerstone Wealth Management LLC increased its position in shares of Phillips 66 by 1.3% during the fourth quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company’s stock worth $865,000 after purchasing an additional 86 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE:PSX traded up $2.36 on Friday, reaching $147.08. 1,886,265 shares of the company were exchanged, compared to its average volume of 2,330,234. The company has a 50-day moving average of $155.59 and a 200-day moving average of $140.33. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The firm has a market cap of $62.35 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 1.96 and a beta of 1.41. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSXGet Free Report) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The company had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same quarter in the previous year, the company posted $4.21 earnings per share. Equities analysts forecast that Phillips 66 will post 12.38 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.13%. This is an increase from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s payout ratio is presently 32.31%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Mizuho dropped their price target on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating on the stock in a research note on Friday, April 12th. Bank of America upped their price target on shares of Phillips 66 from $150.00 to $180.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Wells Fargo & Company raised their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Citigroup initiated coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They issued a “buy” rating for the company. Finally, Piper Sandler lowered their price target on Phillips 66 from $187.00 to $170.00 and set an “overweight” rating on the stock in a report on Tuesday. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $156.21.

Check Out Our Latest Report on PSX

Insider Activity

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the transaction, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.22% of the company’s stock.

About Phillips 66

(Free Report)

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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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