Federated Hermes Inc. Sells 8,226 Shares of Phillips 66 (NYSE:PSX)

Federated Hermes Inc. cut its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 60,283 shares of the oil and gas company's stock after selling 8,226 shares during the quarter. Federated Hermes Inc.'s holdings in Phillips 66 were worth $6,868,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in PSX. Bogart Wealth LLC grew its holdings in shares of Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock worth $25,000 after purchasing an additional 120 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in Phillips 66 during the 4th quarter worth about $25,000. Stephens Consulting LLC increased its position in Phillips 66 by 83.5% in the 4th 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 in the last quarter. Graney & King LLC bought a new position in shares of Phillips 66 in the fourth quarter worth about $28,000. Finally, Human Investing LLC acquired a new position in shares of Phillips 66 during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Stock Performance

Shares of Phillips 66 stock traded up $2.27 during trading on Wednesday, hitting $98.48. 393,693 shares of the stock were exchanged, compared to its average volume of 3,693,555. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average price of $119.96 and a 200-day moving average price of $123.08. The stock has a market capitalization of $40.12 billion, a price-to-earnings ratio of 19.95, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $159.86.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data 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 period in the prior year, the business posted $3.09 earnings per share. As a group, equities analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date was Monday, February 24th. Phillips 66's dividend payout ratio is presently 93.12%.

Analyst Ratings Changes

Several analysts have weighed in on PSX shares. Raymond James dropped their price objective on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. 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 report on Thursday, March 27th. Scotiabank lowered their target price on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a report on Friday, April 11th. Wells Fargo & Company increased their price target on Phillips 66 from $161.00 to $162.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Wolfe Research raised Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $142.00.

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.