M&T Bank Corp Sells 3,927 Shares of Phillips 66 (NYSE:PSX)

M&T Bank Corp decreased its holdings in Phillips 66 (NYSE:PSX - Free Report) by 0.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 521,390 shares of the oil and gas company's stock after selling 3,927 shares during the quarter. M&T Bank Corp owned about 0.13% of Phillips 66 worth $59,403,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Bogart Wealth LLC increased its position in Phillips 66 by 120.0% during the 4th 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 in the last quarter. J.Safra Asset Management Corp purchased a new position in shares of Phillips 66 in the 4th quarter worth about $25,000. Stephens Consulting LLC grew its stake in Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock worth $28,000 after buying an additional 111 shares during the period. Human Investing LLC acquired a new stake in Phillips 66 in the 4th quarter valued at $30,000. Finally, Webster Bank N. A. raised its holdings in shares of Phillips 66 by 48.4% during the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company's stock valued at $31,000 after buying an additional 88 shares during the period. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Trading Down 2.0 %

Phillips 66 stock traded down $2.41 during mid-day trading on Wednesday, hitting $119.88. 4,202,728 shares of the company's stock were exchanged, compared to its average volume of 2,635,912. 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 fifty-two week low of $108.91 and a fifty-two week high of $174.08. The company's 50 day simple moving average is $121.27 and its 200-day simple moving average is $126.47. The firm has a market capitalization of $48.88 billion, a P/E ratio of 24.27, a PEG ratio of 4.84 and a beta of 1.37.

Phillips 66 (NYSE:PSX - Get Free Report) last released 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 quarter in the prior year, the company 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.84%. The ex-dividend date is Monday, February 24th. Phillips 66's payout ratio is 93.12%.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of recent analyst reports. Barclays lowered their price objective on Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating for the company in a research note on Monday, January 13th. Mizuho dropped their price target 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 upped 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 cut shares of Phillips 66 from a "hold" rating to a "sell" rating in a research note on Sunday. Finally, Wolfe Research raised 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, four have given a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, Phillips 66 currently has a consensus 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.