MCIA Inc Has $2.45 Million Stock Position in Phillips 66 (NYSE:PSX)

MCIA Inc increased its holdings in shares of Phillips 66 (NYSE:PSX – Get Rating) by 48.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 24,110 shares of the oil and gas company’s stock after purchasing an additional 7,833 shares during the period. Phillips 66 makes up about 1.1% of MCIA Inc’s holdings, making the stock its 21st biggest position. MCIA Inc’s holdings in Phillips 66 were worth $2,449,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Fortem Financial Group LLC lifted its stake in Phillips 66 by 0.9% during the third quarter. Fortem Financial Group LLC now owns 10,409 shares of the oil and gas company’s stock worth $840,000 after purchasing an additional 94 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in shares of Phillips 66 by 1.3% in the 3rd quarter. Checchi Capital Advisers LLC now owns 7,385 shares of the oil and gas company’s stock valued at $596,000 after acquiring an additional 97 shares during the last quarter. Resources Management Corp CT ADV lifted its stake in shares of Phillips 66 by 1.0% in the 3rd quarter. Resources Management Corp CT ADV now owns 10,405 shares of the oil and gas company’s stock valued at $840,000 after acquiring an additional 100 shares during the last quarter. Carolinas Wealth Consulting LLC lifted its stake in shares of Phillips 66 by 9.7% in the 3rd quarter. Carolinas Wealth Consulting LLC now owns 1,142 shares of the oil and gas company’s stock valued at $92,000 after acquiring an additional 101 shares during the last quarter. Finally, Securian Asset Management Inc. lifted its stake in shares of Phillips 66 by 0.3% in the 3rd quarter. Securian Asset Management Inc. now owns 39,080 shares of the oil and gas company’s stock valued at $3,155,000 after acquiring an additional 103 shares during the last quarter. Institutional investors and hedge funds own 70.76% of the company’s stock.

Phillips 66 Stock Down 0.3 %

Shares of PSX stock traded down $0.33 during midday trading on Friday, reaching $94.72. 10,256,824 shares of the stock were exchanged, compared to its average volume of 3,644,957. Phillips 66 has a 1 year low of $74.02 and a 1 year high of $113.53. The company’s 50 day moving average is $102.53 and its two-hundred day moving average is $99.39. The company has a current ratio of 1.38, a quick ratio of 1.17 and a debt-to-equity ratio of 0.49. The firm has a market cap of $43.94 billion, a PE ratio of 4.13, a price-to-earnings-growth ratio of 0.33 and a beta of 1.37.

Phillips 66 (NYSE:PSX – Get Rating) last posted its earnings results on Tuesday, January 31st. The oil and gas company reported $4.00 earnings per share for the quarter, missing analysts’ consensus estimates of $4.35 by ($0.35). Phillips 66 had a return on equity of 31.20% and a net margin of 6.27%. The firm had revenue of $40.91 billion for the quarter, compared to analysts’ expectations of $34.30 billion. During the same quarter last year, the company posted $2.94 EPS. On average, equities research analysts predict that Phillips 66 will post 15.68 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 21st were paid a $1.05 dividend. The ex-dividend date of this dividend was Friday, February 17th. This represents a $4.20 annualized dividend and a dividend yield of 4.43%. This is an increase from Phillips 66’s previous quarterly dividend of $0.97. Phillips 66’s dividend payout ratio is presently 18.30%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PSX. Morgan Stanley boosted their target price on Phillips 66 from $115.00 to $125.00 and gave the company an “equal weight” rating in a research note on Friday, January 20th. StockNews.com began coverage on Phillips 66 in a research note on Thursday. They issued a “buy” rating for the company. UBS Group initiated coverage on Phillips 66 in a research note on Wednesday, March 8th. They issued a “buy” rating and a $139.00 target price for the company. Royal Bank of Canada boosted their price target on Phillips 66 from $130.00 to $132.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. Finally, Piper Sandler reduced their price target on Phillips 66 from $155.00 to $137.00 and set an “overweight” rating on the stock in a report on Monday, December 19th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $121.27.

Insider Buying and Selling

In related news, Director Gregory Hayes purchased 10,250 shares of the business’s stock in a transaction that occurred on Thursday, February 2nd. The shares were bought at an average price of $97.75 per share, for a total transaction of $1,001,937.50. Following the purchase, the director now directly owns 14,299 shares of the company’s stock, valued at approximately $1,397,727.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.74% of the stock is currently owned by company insiders.

Phillips 66 Company Profile

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Phillips 66 engages in the processing, transportation, storage, and marketing of fuels and other related products. The company operates through the following segments: Midstream, Chemicals, Refining and Marketing & Specialties. The Midstream segment provides crude oil and refined products transportation, terminaling and processing services, as well as natural gas, natural gas liquids and liquefied petroleum gas transportation, storage, processing and marketing services.