Linscomb Wealth Inc. Boosts Stock Position in Phillips 66 (NYSE:PSX)

Linscomb Wealth Inc. lifted its position in Phillips 66 (NYSE:PSX) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,583 shares of the oil and gas company’s stock after purchasing an additional 365 shares during the quarter. Linscomb Wealth Inc.’s holdings in Phillips 66 were worth $636,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bogart Wealth LLC increased its holdings 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 worth $25,000 after buying an additional 120 shares during the period. Stephens Consulting LLC boosted its holdings in shares of 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 purchased a new stake in shares of Phillips 66 in the 4th quarter valued at $30,000. Webster Bank N. A. raised 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 worth $31,000 after purchasing an additional 88 shares during the last quarter. Finally, YANKCOM Partnership purchased a new position in shares of Phillips 66 during the fourth quarter worth $31,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $129.81 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a market capitalization of $52.92 billion, a PE ratio of 26.28, a P/E/G ratio of 4.84 and a beta of 1.37. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The company has a fifty day moving average of $120.60 and a two-hundred day moving average of $126.86.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 company posted $3.09 EPS. As a group, research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be given a $1.15 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Analysts Set New Price Targets

Several research firms have commented on PSX. StockNews.com raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday, February 22nd. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Mizuho reduced their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. UBS Group lowered their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Finally, 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. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

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.