Scissortail Wealth Management LLC Raises Holdings in Phillips 66 (NYSE:PSX)

Scissortail Wealth Management LLC grew its holdings in Phillips 66 (NYSE:PSX) by 241,345.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 48,289 shares of the oil and gas company’s stock after buying an additional 48,269 shares during the quarter. Phillips 66 comprises 1.4% of Scissortail Wealth Management LLC’s investment portfolio, making the stock its 22nd biggest holding. Scissortail Wealth Management LLC’s holdings in Phillips 66 were worth $5,502,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Bogart Wealth LLC raised its stake in shares of Phillips 66 by 120.0% during 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 last quarter. J.Safra Asset Management Corp purchased a new position in Phillips 66 during the 4th quarter valued at about $25,000. Stephens Consulting LLC raised its position in Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 111 shares during the last quarter. Graney & King LLC purchased a new stake in shares of Phillips 66 in the fourth quarter valued at about $28,000. Finally, Human Investing LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $30,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PSX shares. JPMorgan Chase & Co. cut their price objective on Phillips 66 from $138.00 to $131.00 and set an “overweight” rating for the company in a research report on Tuesday, April 29th. Morgan Stanley cut their price target on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Scotiabank decreased their price objective on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. StockNews.com upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research report on Monday, April 28th. Finally, Barclays upped their target price on shares of Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a report on Monday, May 12th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $137.86.

Phillips 66 Price Performance

Phillips 66 stock opened at $125.69 on Friday. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12. 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 firm has a 50 day moving average price of $111.61 and a 200 day moving average price of $119.25. The company has a market cap of $51.21 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.97). The company had revenue of $31.92 billion for the quarter, compared to analysts’ expectations of $31.93 billion. 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 firm earned $1.90 earnings per share. Sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date of this dividend is Monday, May 19th. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s payout ratio is 109.34%.

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.