Williams Jones Wealth Management LLC. Buys 250 Shares of Phillips 66 (NYSE:PSX)

Williams Jones Wealth Management LLC. boosted its stake in shares of Phillips 66 (NYSE:PSX) by 2.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,112 shares of the oil and gas company’s stock after buying an additional 250 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in Phillips 66 were worth $1,380,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Tallon Kerry Patrick purchased a new stake in Phillips 66 in the 4th quarter worth approximately $336,000. Merit Financial Group LLC increased its stake in shares of Phillips 66 by 100.9% in the fourth quarter. Merit Financial Group LLC now owns 8,372 shares of the oil and gas company’s stock worth $954,000 after purchasing an additional 4,204 shares in the last quarter. Grove Bank & Trust raised its position in shares of Phillips 66 by 12.7% during the 4th quarter. Grove Bank & Trust now owns 1,088 shares of the oil and gas company’s stock valued at $124,000 after purchasing an additional 123 shares during the period. ZWJ Investment Counsel Inc. raised its position in shares of Phillips 66 by 3.5% during the 4th quarter. ZWJ Investment Counsel Inc. now owns 256,768 shares of the oil and gas company’s stock valued at $29,254,000 after purchasing an additional 8,801 shares during the period. Finally, Ballentine Partners LLC lifted its stake in shares of Phillips 66 by 11.4% during the 4th quarter. Ballentine Partners LLC now owns 3,040 shares of the oil and gas company’s stock valued at $346,000 after buying an additional 312 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PSX. Wells Fargo & Company decreased their price target on Phillips 66 from $162.00 to $149.00 and set an “overweight” rating on the stock in a report on Monday, April 28th. Raymond James decreased their target price on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Barclays boosted their price target on Phillips 66 from $106.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday, May 12th. Scotiabank cut their price objective on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Finally, StockNews.com raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Monday, April 28th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $137.86.

Phillips 66 Stock Down 1.1%

NYSE PSX opened at $120.81 on Wednesday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The firm has a market capitalization of $49.22 billion, a price-to-earnings ratio of 24.46, a PEG ratio of 4.84 and a beta of 1.01. The company has a fifty day moving average of $111.53 and a two-hundred day moving average of $119.23.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The firm had revenue of $31.92 billion for the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the firm posted $1.90 earnings per share. On average, analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a $1.20 dividend. The ex-dividend date is Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 3.97%. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio (DPR) is presently 109.34%.

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.