Belpointe Asset Management LLC Has $588,000 Stake in Phillips 66 (NYSE:PSX)

Belpointe Asset Management LLC trimmed its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 34.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,157 shares of the oil and gas company's stock after selling 2,709 shares during the period. Belpointe Asset Management LLC's holdings in Phillips 66 were worth $588,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bogart Wealth LLC boosted its holdings in shares of Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock valued at $25,000 after buying an additional 120 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in Phillips 66 during the fourth quarter worth $25,000. Stephens Consulting LLC lifted its stake in Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock valued at $28,000 after acquiring an additional 111 shares during the last quarter. Graney & King LLC bought a new position in shares of Phillips 66 in the 4th quarter valued at about $28,000. Finally, Human Investing LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Barclays reduced their price target on Phillips 66 from $135.00 to $106.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Scotiabank decreased their target price on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Raymond James cut their price target on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Piper Sandler downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. Finally, The Goldman Sachs Group lowered shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective on the stock. in a research report on Thursday, March 27th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $142.00.

Phillips 66 Price Performance

NYSE:PSX traded up $2.39 during trading hours on Tuesday, reaching $99.40. 241,902 shares of the company were exchanged, compared to its average volume of 3,633,780. The business has a 50 day moving average of $117.81 and a 200 day moving average of $121.95. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $159.24. 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 company has a market capitalization of $40.50 billion, a P/E ratio of 20.12, a P/E/G ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business earned $3.09 EPS. Research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $1.20 per share. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 4.83%. Phillips 66's dividend payout ratio (DPR) is currently 93.12%.

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.