Cushing Capital Partners LLC Takes Position in Phillips 66 (NYSE:PSX)

Cushing Capital Partners LLC acquired a new stake in shares of Phillips 66 (NYSE:PSX) in the fourth quarter, HoldingsChannel reports. The firm acquired 7,157 shares of the oil and gas company’s stock, valued at approximately $815,000.

Other institutional investors have also recently made changes to their positions in the company. Summit Global Investments purchased a new position in Phillips 66 in the third quarter worth about $371,000. CWA Asset Management Group LLC purchased a new position in Phillips 66 in the third quarter worth about $244,000. Assetmark Inc. grew its position in Phillips 66 by 20.9% in the third quarter. Assetmark Inc. now owns 2,692 shares of the oil and gas company’s stock worth $354,000 after acquiring an additional 466 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its position in Phillips 66 by 0.8% in the third quarter. Mesirow Financial Investment Management Inc. now owns 16,308 shares of the oil and gas company’s stock worth $2,143,000 after acquiring an additional 124 shares in the last quarter. Finally, Covestor Ltd grew its position in Phillips 66 by 25.4% in the third quarter. Covestor Ltd now owns 514 shares of the oil and gas company’s stock worth $68,000 after acquiring an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Phillips 66 stock opened at $126.41 on Tuesday. The company has a 50 day moving average price of $122.05 and a 200-day moving average price of $126.21. 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 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08. The company has a market capitalization of $51.54 billion, a PE ratio of 25.59, a P/E/G ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last posted 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 net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the company posted $3.09 EPS. As a group, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $1.15 per share. 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 dividend payout ratio is presently 93.12%.

Wall Street Analysts Forecast Growth

PSX has been the subject of several recent research reports. Wells Fargo & Company lifted 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. Barclays dropped their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Mizuho dropped 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. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

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.