Westwood Holdings Group Inc. Increases Position in Phillips 66 (NYSE:PSX)

Westwood Holdings Group Inc. increased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 39.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,186 shares of the oil and gas company's stock after purchasing an additional 2,872 shares during the period. Westwood Holdings Group Inc.'s holdings in Phillips 66 were worth $1,160,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PSX. NewEdge Wealth LLC raised its holdings in Phillips 66 by 0.5% during the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock valued at $1,732,000 after acquiring an additional 81 shares during the period. JBR Co Financial Management Inc boosted its stake in shares of Phillips 66 by 0.9% in the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company's stock worth $1,085,000 after acquiring an additional 85 shares during the period. Nwam LLC grew its position in shares of Phillips 66 by 2.2% during the fourth 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 in the last quarter. Webster Bank N. A. raised its stake in Phillips 66 by 48.4% during the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company's stock valued at $31,000 after purchasing an additional 88 shares during the period. Finally, PFG Private Wealth Management LLC lifted its holdings in Phillips 66 by 7.7% in the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock worth $140,000 after purchasing an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Performance

PSX stock opened at $120.81 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The business has a 50-day moving average price of $111.53 and a 200 day moving average price of $119.23. The company has a market capitalization of $49.22 billion, a P/E ratio of 24.46, a PEG ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The business had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. During the same period in the previous year, the company posted $1.90 EPS. As a group, equities research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.97%. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date is Monday, May 19th. Phillips 66's payout ratio is presently 109.34%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. UBS Group dropped their price target on Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Mizuho lifted their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. StockNews.com upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. JPMorgan Chase & Co. lowered their price target on shares of Phillips 66 from $138.00 to $131.00 and set an "overweight" rating for the company in a report on Tuesday, April 29th. Finally, Wells Fargo & Company dropped their price target on Phillips 66 from $162.00 to $149.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $137.86.

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.

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