PNC Financial Services Group Inc. Has $91.24 Million Position in Phillips 66 (NYSE:PSX)

PNC Financial Services Group Inc. reduced its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 1.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 800,865 shares of the oil and gas company's stock after selling 9,547 shares during the quarter. PNC Financial Services Group Inc. owned about 0.19% of Phillips 66 worth $91,243,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aviance Capital Partners LLC boosted its stake in Phillips 66 by 2.4% during the 4th quarter. Aviance Capital Partners LLC now owns 6,406 shares of the oil and gas company's stock valued at $730,000 after purchasing an additional 150 shares in the last quarter. Oak Hill Wealth Advisors LLC boosted its stake in shares of Phillips 66 by 201.9% during the 4th quarter. Oak Hill Wealth Advisors LLC now owns 7,912 shares of the oil and gas company's stock worth $901,000 after acquiring an additional 15,674 shares in the last quarter. Pacific Heights Asset Management LLC boosted its stake in shares of Phillips 66 by 100.0% during the 4th quarter. Pacific Heights Asset Management LLC now owns 150,000 shares of the oil and gas company's stock worth $15,855,000 after acquiring an additional 75,000 shares in the last quarter. Marco Investment Management LLC boosted its stake in shares of Phillips 66 by 1.4% during the 4th quarter. Marco Investment Management LLC now owns 78,982 shares of the oil and gas company's stock worth $8,998,000 after acquiring an additional 1,060 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC boosted its stake in shares of Phillips 66 by 3.1% during the 4th quarter. Ashton Thomas Private Wealth LLC now owns 31,890 shares of the oil and gas company's stock worth $3,633,000 after acquiring an additional 945 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

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Phillips 66 Stock Up 3.0 %

Shares of NYSE:PSX traded up $3.72 during midday trading on Friday, hitting $126.51. 3,463,672 shares of the stock were exchanged, compared to its average volume of 2,636,659. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 52-week low of $108.91 and a 52-week high of $174.08. The business's fifty day simple moving average is $121.76 and its two-hundred day simple moving average is $126.25. The company has a market capitalization of $51.58 billion, a PE ratio of 25.61, a P/E/G ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (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 in the previous year, the business earned $3.09 EPS. As a group, research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business 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. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.64%. Phillips 66's dividend payout ratio (DPR) is currently 93.12%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PSX. Barclays reduced 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. Piper Sandler lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Wells Fargo & Company raised their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. StockNews.com cut Phillips 66 from a "hold" rating to a "sell" rating in a research report on Sunday, March 2nd. Finally, Wolfe Research raised Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $148.00.

About Phillips 66

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.