Korea Investment CORP Sells 108,403 Shares of Phillips 66 (NYSE:PSX)

Korea Investment CORP decreased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 28.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 274,524 shares of the oil and gas company's stock after selling 108,403 shares during the period. Korea Investment CORP owned approximately 0.07% of Phillips 66 worth $31,277,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Graney & King LLC purchased a new stake in shares of Phillips 66 during the 4th quarter worth approximately $28,000. Ausdal Financial Partners Inc. increased its position in Phillips 66 by 20.8% in the fourth quarter. Ausdal Financial Partners Inc. now owns 5,698 shares of the oil and gas company's stock worth $649,000 after purchasing an additional 980 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Phillips 66 during the fourth quarter valued at $69,000. Signature Estate & Investment Advisors LLC lifted its position in Phillips 66 by 6.1% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 2,008 shares of the oil and gas company's stock valued at $229,000 after purchasing an additional 116 shares during the last quarter. Finally, Zions Bancorporation N.A. grew its stake in shares of Phillips 66 by 47.5% in the 4th quarter. Zions Bancorporation N.A. now owns 3,528 shares of the oil and gas company's stock worth $402,000 after buying an additional 1,136 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Trading Down 0.4 %

Shares of Phillips 66 stock traded down $0.52 on Tuesday, hitting $122.96. 965,578 shares of the company traded hands, compared to its average volume of 3,508,959. 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 market cap of $50.13 billion, a PE ratio of 24.88, a PEG ratio of 4.84 and a beta of 1.31. The stock's 50 day moving average price is $124.82 and its 200-day moving average price is $125.50. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08.

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

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.74%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66's payout ratio is 93.12%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Piper Sandler downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. The Goldman Sachs Group lowered Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective for the company. in a research note on Thursday, March 27th. Mizuho cut their target price on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a research report on Monday, December 16th. Wells Fargo & Company raised their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, 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 report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $146.43.

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.