BI Asset Management Fondsmaeglerselskab A S Sells 14,447 Shares of Phillips 66 (NYSE:PSX)

BI Asset Management Fondsmaeglerselskab A S trimmed its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 53.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,836 shares of the oil and gas company's stock after selling 14,447 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Phillips 66 were worth $1,462,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Dimensional Fund Advisors LP raised its holdings in shares of Phillips 66 by 9.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,014,113 shares of the oil and gas company's stock valued at $457,257,000 after purchasing an additional 357,705 shares during the period. First Trust Advisors LP raised its stake in Phillips 66 by 32.5% in the fourth quarter. First Trust Advisors LP now owns 360,685 shares of the oil and gas company's stock valued at $41,093,000 after buying an additional 88,511 shares during the period. HITE Hedge Asset Management LLC bought a new stake in Phillips 66 in the fourth quarter valued at approximately $8,909,000. Alpha DNA Investment Management LLC boosted its stake in shares of Phillips 66 by 6.9% during the 4th quarter. Alpha DNA Investment Management LLC now owns 3,089 shares of the oil and gas company's stock worth $352,000 after acquiring an additional 200 shares during the period. Finally, Fairfield Bush & CO. increased its holdings in shares of Phillips 66 by 4.1% during the 4th quarter. Fairfield Bush & CO. now owns 9,334 shares of the oil and gas company's stock worth $1,063,000 after acquiring an additional 370 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Trading Up 3.9 %

PSX opened at $100.83 on Wednesday. The stock has a market capitalization of $41.08 billion, a price-to-earnings ratio of 20.41, a P/E/G ratio of 4.84 and a beta of 1.17. 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 twelve month low of $91.01 and a twelve month high of $159.25. The company has a 50-day simple moving average of $117.31 and a 200 day simple moving average of $121.80.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly 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 quarter last year, the business posted $3.09 EPS. Analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $1.20 dividend. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 annualized dividend and a dividend yield of 4.76%. Phillips 66's dividend payout ratio (DPR) is presently 93.12%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PSX. Piper Sandler lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. Raymond James cut their price objective on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. StockNews.com downgraded Phillips 66 from a "hold" rating to a "sell" rating in a research report on Sunday, March 2nd. Mizuho dropped their price target on Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Finally, Wolfe Research upgraded Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price target for the company in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $142.00.

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.

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