Encompass Wealth Advisors LLC Purchases New Holdings in Phillips 66 (NYSE:PSX)


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Encompass Wealth Advisors LLC purchased a new stake in shares of Phillips 66 (NYSE:PSX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 937 shares of the oil and gas company’s stock, valued at approximately $66,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of PSX. Norges Bank acquired a new position in Phillips 66 during the fourth quarter valued at approximately $295,857,000. Wells Fargo & Company MN boosted its position in Phillips 66 by 31.9% during the fourth quarter. Wells Fargo & Company MN now owns 15,399,949 shares of the oil and gas company’s stock valued at $1,077,073,000 after purchasing an additional 3,727,385 shares during the last quarter. BlackRock Inc. raised its stake in Phillips 66 by 8.2% in the fourth quarter. BlackRock Inc. now owns 32,908,454 shares of the oil and gas company’s stock valued at $2,301,616,000 after buying an additional 2,490,032 shares during the period. Principal Financial Group Inc. raised its stake in Phillips 66 by 327.7% in the fourth quarter. Principal Financial Group Inc. now owns 3,053,018 shares of the oil and gas company’s stock valued at $213,528,000 after buying an additional 2,339,212 shares during the period. Finally, Amundi Pioneer Asset Management Inc. raised its stake in Phillips 66 by 89.1% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 2,236,284 shares of the oil and gas company’s stock valued at $156,406,000 after buying an additional 1,053,999 shares during the period. 64.56% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Greg C. Garland sold 158,500 shares of the firm’s stock in a transaction on Thursday, March 11th. The stock was sold at an average price of $88.50, for a total transaction of $14,027,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.63% of the stock is owned by company insiders.

Several analysts have issued reports on PSX shares. Zacks Investment Research upgraded Phillips 66 from a “sell” rating to a “hold” rating and set a $89.00 price objective on the stock in a research note on Thursday, March 4th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $65.00 price objective on shares of Phillips 66 in a research note on Monday, March 1st. Mizuho upped their price objective on Phillips 66 from $70.00 to $96.00 and gave the company a “buy” rating in a research note on Thursday, March 4th. Tudor Pickering lowered Phillips 66 from a “buy” rating to a “hold” rating in a research note on Thursday, January 21st. Finally, Citigroup upped their price objective on Phillips 66 from $81.00 to $99.00 in a research note on Wednesday, March 17th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $82.53.

NYSE PSX opened at $80.00 on Thursday. The company has a quick ratio of 0.75, a current ratio of 1.22 and a debt-to-equity ratio of 0.57. Phillips 66 has a twelve month low of $43.27 and a twelve month high of $90.59. The company has a market cap of $35.03 billion, a price-to-earnings ratio of -12.97, a price-to-earnings-growth ratio of 3.65 and a beta of 1.67. The business’s fifty day moving average is $83.92 and its 200 day moving average is $67.98.

Phillips 66 (NYSE:PSX) last announced its earnings results on Thursday, January 28th. The oil and gas company reported ($1.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.06) by ($0.10). The company had revenue of $16.77 billion for the quarter, compared to the consensus estimate of $15.88 billion. Phillips 66 had a positive return on equity of 3.38% and a negative net margin of 3.45%. During the same period in the prior year, the business earned $1.54 earnings per share. On average, research analysts anticipate that Phillips 66 will post -0.65 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, March 1st. Investors of record on Monday, February 22nd were given a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a yield of 4.50%. The ex-dividend date of this dividend was Friday, February 19th. Phillips 66’s dividend payout ratio is currently 44.72%.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. 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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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