Proficio Capital Partners LLC Invests $16.77 Million in Phillips 66 (NYSE:PSX)

Proficio Capital Partners LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 147,203 shares of the oil and gas company’s stock, valued at approximately $16,771,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Oppenheimer & Co. Inc. boosted its holdings in shares of Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after buying an additional 4,515 shares during the period. K.J. Harrison & Partners Inc acquired a new stake in shares of Phillips 66 during the fourth quarter worth $229,000. Apriem Advisors lifted its position in Phillips 66 by 9.7% in the 4th quarter. Apriem Advisors now owns 2,368 shares of the oil and gas company’s stock valued at $270,000 after acquiring an additional 210 shares in the last quarter. Nwam LLC boosted its stake in Phillips 66 by 2.2% in the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock worth $442,000 after purchasing an additional 85 shares during the period. Finally, Heritage Investors Management Corp increased its holdings in Phillips 66 by 0.8% during the 4th quarter. Heritage Investors Management Corp now owns 82,381 shares of the oil and gas company’s stock worth $9,386,000 after purchasing an additional 682 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday. UBS Group decreased their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. Finally, Barclays reduced their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. 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 MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Stock Up 1.9 %

Shares of PSX stock opened at $129.81 on Friday. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The stock has a market cap of $52.92 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 4.84 and a beta of 1.37. The firm’s 50-day moving average is $120.60 and its 200-day moving average is $126.80. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last released 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 net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the business posted $3.09 earnings per share. Sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.54%. The ex-dividend date is Monday, February 24th. Phillips 66’s dividend payout ratio is 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.