Wells Fargo & Company MN Reduces Position in Phillips 66 (NYSE:PSX)

Wells Fargo & Company MN reduced its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 0.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,030,294 shares of the oil and gas company's stock after selling 123,186 shares during the quarter. Wells Fargo & Company MN owned 3.88% of Phillips 66 worth $1,826,331,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Bogart Wealth LLC grew its holdings in Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock worth $25,000 after acquiring an additional 120 shares during the last quarter. J.Safra Asset Management Corp bought a new stake in Phillips 66 during the fourth quarter worth about $25,000. Stephens Consulting LLC raised 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 valued at $28,000 after buying an additional 111 shares during the last quarter. Graney & King LLC bought a new position in shares of Phillips 66 in the fourth quarter worth approximately $28,000. Finally, Human Investing LLC purchased a new stake in Phillips 66 during the 4th quarter valued at $30,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PSX shares. Barclays upped their price objective on Phillips 66 from $115.00 to $135.00 and gave the company an "equal weight" rating in a research report on Friday, March 14th. Piper Sandler cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. StockNews.com lowered Phillips 66 from a "hold" rating to a "sell" rating in a research note on Sunday, March 2nd. Mizuho reduced their price objective on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a research note on Monday, December 16th. Finally, Wells Fargo & Company boosted their price target 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of "Moderate Buy" and an average target price of $146.43.

Remove Ads

Phillips 66 Trading Down 8.0 %

PSX stock traded down $8.53 during trading on Friday, hitting $98.65. The company had a trading volume of 6,420,619 shares, compared to its average volume of 2,809,631. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $40.22 billion, a P/E ratio of 19.97, a PEG ratio of 4.84 and a beta of 1.17. The company has a 50 day simple moving average of $124.24 and a 200-day simple moving average of $125.09. Phillips 66 has a 52-week low of $95.67 and a 52-week high of $171.41.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 in the prior year, the company posted $3.09 EPS. As a group, research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date was Monday, February 24th. Phillips 66's dividend payout ratio (DPR) is 93.12%.

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.