Empower Advisory Group LLC Raises Stock Holdings in Phillips 66 (NYSE:PSX)

Empower Advisory Group LLC increased its position in Phillips 66 (NYSE:PSX) by 11.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,742 shares of the oil and gas company’s stock after buying an additional 279 shares during the quarter. Empower Advisory Group LLC’s holdings in Phillips 66 were worth $312,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in PSX. Truist Financial Corp increased its position in Phillips 66 by 0.8% during the 4th quarter. Truist Financial Corp now owns 573,283 shares of the oil and gas company’s stock valued at $65,314,000 after purchasing an additional 4,336 shares during the period. CIBC Asset Management Inc grew its position in shares of Phillips 66 by 1.2% in the 4th quarter. CIBC Asset Management Inc now owns 72,684 shares of the oil and gas company’s stock worth $8,281,000 after buying an additional 851 shares during the period. 5T Wealth LLC purchased a new stake in shares of Phillips 66 in the 4th quarter worth about $644,000. Human Investing LLC purchased a new stake in shares of Phillips 66 in the 4th quarter worth about $30,000. Finally, Strategic Advisors LLC grew its position in shares of Phillips 66 by 2.8% in the 4th quarter. Strategic Advisors LLC now owns 8,072 shares of the oil and gas company’s stock worth $920,000 after buying an additional 223 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Down 0.1 %

NYSE PSX opened at $130.12 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average of $118.90 and a two-hundred day moving average of $127.10. The firm has a market capitalization of $53.74 billion, a price-to-earnings ratio of 26.34, a PEG ratio of 4.71 and a beta of 1.37. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 previous year, the business earned $3.09 EPS. On average, analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a $1.15 dividend. The ex-dividend date is Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. Phillips 66’s payout ratio is currently 93.12%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. UBS Group reduced 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 report on Monday, November 4th. Wells Fargo & Company upped their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. 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. 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 analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

About Phillips 66

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.