Martingale Asset Management L P Has $1.19 Million Stock Position in Phillips 66 (NYSE:PSX)

Martingale Asset Management L P lessened its stake in Phillips 66 (NYSE:PSX - Free Report) by 86.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,460 shares of the oil and gas company's stock after selling 66,094 shares during the period. Martingale Asset Management L P's holdings in Phillips 66 were worth $1,192,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Morse Asset Management Inc acquired a new stake in Phillips 66 in the third quarter worth about $493,000. Sunbelt Securities Inc. lifted its holdings in Phillips 66 by 41.0% in the third quarter. Sunbelt Securities Inc. now owns 4,027 shares of the oil and gas company's stock valued at $529,000 after buying an additional 1,171 shares during the period. Arete Wealth Advisors LLC acquired a new stake in shares of Phillips 66 during the third quarter worth $359,000. Invst LLC increased its holdings in Phillips 66 by 2.4% in the third quarter. Invst LLC now owns 6,201 shares of the oil and gas company's stock valued at $815,000 after purchasing an additional 145 shares during the last quarter. Finally, Advisory Resource Group lifted its stake in Phillips 66 by 4.3% in the third quarter. Advisory Resource Group now owns 241,527 shares of the oil and gas company's stock valued at $31,749,000 after buying an additional 9,930 shares during the period. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Stock Up 2.9 %

Shares of NYSE:PSX traded up $2.80 during trading on Thursday, hitting $99.37. 690,686 shares of the company were exchanged, compared to its average volume of 2,880,507. The stock has a market cap of $40.49 billion, a price-to-earnings ratio of 20.10, a P/E/G ratio of 4.84 and a beta of 1.17. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $159.86. The firm has a fifty day moving average price of $119.48 and a two-hundred day moving average price of $122.90.

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) EPS 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 quarter last year, the firm posted $3.09 earnings per share. As a group, research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 4.63%. Phillips 66's dividend payout ratio is 93.12%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. StockNews.com downgraded shares of Phillips 66 from a "hold" rating to a "sell" rating in a research report on Sunday, March 2nd. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Piper Sandler downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Mizuho decreased their target price on Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Finally, Raymond James cut their price objective on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.