C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Has $482,000 Stock Position in Phillips 66 (NYSE:PSX)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors lessened its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 86.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,233 shares of the oil and gas company's stock after selling 27,351 shares during the quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors' holdings in Phillips 66 were worth $482,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. nVerses Capital LLC acquired a new position in Phillips 66 during the third quarter valued at approximately $26,000. Allspring Global Investments Holdings LLC grew its holdings in Phillips 66 by 22.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 118,782 shares of the oil and gas company's stock valued at $15,614,000 after purchasing an additional 21,840 shares during the last quarter. Oakworth Capital Inc. grew its holdings in Phillips 66 by 36.5% during the third quarter. Oakworth Capital Inc. now owns 1,660 shares of the oil and gas company's stock valued at $218,000 after purchasing an additional 444 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Phillips 66 by 40.2% during the third quarter. Sequoia Financial Advisors LLC now owns 28,296 shares of the oil and gas company's stock valued at $3,720,000 after purchasing an additional 8,110 shares during the last quarter. Finally, Eastern Bank acquired a new position in Phillips 66 during the third quarter valued at approximately $348,000. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Performance

Phillips 66 stock traded down $2.77 on Friday, hitting $128.78. The company's stock had a trading volume of 12,517,207 shares, compared to its average volume of 3,464,704. The firm has a market cap of $53.18 billion, a P/E ratio of 26.07, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average price of $119.17 and a 200-day moving average price of $127.07. Phillips 66 has a one year low of $108.90 and a one year high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last announced 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 net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the business posted $3.09 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.57%. Phillips 66's dividend payout ratio is presently 93.12%.

Wall Street Analyst Weigh In

Several brokerages have commented on PSX. Mizuho lowered their price target on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a report on Monday, December 16th. Wolfe Research upgraded shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Wells Fargo & Company boosted their target price 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. StockNews.com raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, Barclays dropped their target price on shares of Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Monday, January 13th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $148.00.

Phillips 66 Profile

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.