NewEdge Advisors LLC trimmed its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,864 shares of the oil and gas company's stock after selling 5,333 shares during the period. NewEdge Advisors LLC's holdings in Phillips 66 were worth $8,985,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Morse Asset Management Inc acquired a new stake in Phillips 66 in the 3rd quarter valued at about $493,000. Invst LLC lifted its position in shares of 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 buying an additional 145 shares during the last quarter. Advisory Resource Group boosted its stake in shares of Phillips 66 by 4.3% during the 3rd quarter. Advisory Resource Group now owns 241,527 shares of the oil and gas company's stock worth $31,749,000 after acquiring an additional 9,930 shares during the period. World Investment Advisors LLC acquired a new position in shares of Phillips 66 during the 3rd quarter worth approximately $796,000. Finally, Arvest Bank Trust Division bought a new stake in Phillips 66 in the 3rd quarter valued at $1,008,000. 76.93% of the stock is owned by institutional investors.
Analysts Set New Price Targets
PSX has been the subject of a number of research analyst reports. Barclays reduced their price objective on shares of Phillips 66 from $135.00 to $106.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Raymond James decreased their price target on shares of Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Mizuho cut their price objective on shares of Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. Wolfe Research raised Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Finally, Scotiabank lowered their price target on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a research report on Friday, April 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of "Moderate Buy" and a consensus target price of $142.00.
Check Out Our Latest Research Report on PSX
Phillips 66 Price Performance
Shares of PSX traded up $1.63 during midday trading on Wednesday, hitting $102.53. The company's stock had a trading volume of 813,433 shares, compared to its average volume of 2,888,580. 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 one year low of $91.01 and a one year high of $159.25. The stock has a market capitalization of $41.77 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. The company's fifty day simple moving average is $117.31 and its two-hundred day simple moving average is $121.80.
Phillips 66 (NYSE:PSX - Get Free Report) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the company posted $3.09 EPS. As a group, equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.
Phillips 66 Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a $1.20 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 4.68%. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio (DPR) is currently 93.12%.
Phillips 66 Profile
(
Free Report)
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.
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