Avantax Advisory Services Inc. Cuts Stock Position in Phillips 66 (NYSE:PSX)

Avantax Advisory Services Inc. reduced its position in Phillips 66 (NYSE:PSX - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 89,283 shares of the oil and gas company's stock after selling 2,543 shares during the period. Avantax Advisory Services Inc.'s holdings in Phillips 66 were worth $10,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in PSX. NewEdge Wealth LLC raised its position in shares of Phillips 66 by 0.5% in the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock worth $1,732,000 after acquiring an additional 81 shares during the period. JBR Co Financial Management Inc raised its holdings in Phillips 66 by 0.9% in the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company's stock worth $1,085,000 after purchasing an additional 85 shares during the period. Nwam LLC boosted its position in Phillips 66 by 2.2% during the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock worth $442,000 after purchasing an additional 85 shares in the last quarter. Webster Bank N. A. boosted its position in Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company's stock worth $31,000 after purchasing an additional 88 shares in the last quarter. Finally, PFG Private Wealth Management LLC grew its holdings in Phillips 66 by 7.7% in the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock valued at $140,000 after purchasing an additional 88 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

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Phillips 66 Trading Up 3.2 %

PSX traded up $3.94 during trading hours on Friday, reaching $126.44. The company's stock had a trading volume of 2,287,978 shares, compared to its average volume of 2,648,066. The stock has a market cap of $51.55 billion, a PE ratio of 25.57, a P/E/G ratio of 4.84 and a beta of 1.31. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The business's 50-day moving average is $122.61 and its 200-day moving average is $126.08.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the company earned $3.09 EPS. As a group, equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.64%. Phillips 66's dividend payout ratio (DPR) is presently 93.12%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Piper Sandler lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Barclays increased their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the company an "equal weight" rating in a report on Friday. Wolfe Research upgraded shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Wells Fargo & Company upped their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Mizuho lowered their price objective on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $149.43.

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.