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

Westwood Holdings Group Inc. boosted its position in shares of Phillips 66 (NYSE:PSX) by 39.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,186 shares of the oil and gas company’s stock after acquiring an additional 2,872 shares during the period. Westwood Holdings Group Inc.’s holdings in Phillips 66 were worth $1,160,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Bogart Wealth LLC raised its stake 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 acquiring an additional 120 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Phillips 66 during the 4th quarter worth about $25,000. Stephens Consulting LLC lifted its stake in 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 buying an additional 111 shares in the last quarter. Graney & King LLC acquired a new stake in Phillips 66 in the 4th quarter worth about $28,000. Finally, Human Investing LLC purchased a new stake in Phillips 66 during the 4th quarter worth approximately $30,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Trading Down 1.1%

PSX opened at $120.81 on Wednesday. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. 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 business has a fifty day simple moving average of $111.53 and a 200-day simple moving average of $119.23. The firm has a market cap of $49.22 billion, a P/E ratio of 24.46, a P/E/G ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last posted its earnings results 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). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The firm had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same period in the previous year, the company posted $1.90 EPS. On average, equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm 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 dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.97%. The ex-dividend date of this dividend is Monday, May 19th. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio is currently 109.34%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PSX. StockNews.com upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research report on Monday, April 28th. Morgan Stanley reduced their price objective on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. Scotiabank lowered their target price on shares of 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. Wells Fargo & Company reduced their target price on shares of Phillips 66 from $162.00 to $149.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Finally, Raymond James lowered their price target on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.86.

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.