QRG Capital Management Inc. Sells 22,453 Shares of Phillips 66 (NYSE:PSX)

QRG Capital Management Inc. cut its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 35.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,657 shares of the oil and gas company's stock after selling 22,453 shares during the quarter. QRG Capital Management Inc.'s holdings in Phillips 66 were worth $4,746,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Bank of New York Mellon Corp raised its holdings in Phillips 66 by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company's stock valued at $1,064,601,000 after acquiring an additional 639,323 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Phillips 66 by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company's stock valued at $381,453,000 after acquiring an additional 16,941 shares during the period. Mizuho Securities USA LLC raised its holdings in Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company's stock valued at $328,625,000 after acquiring an additional 2,467,316 shares during the period. Bank of Montreal Can raised its holdings in Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company's stock valued at $214,120,000 after acquiring an additional 633,970 shares during the period. Finally, ING Groep NV raised its holdings in Phillips 66 by 123.2% during the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company's stock valued at $155,503,000 after acquiring an additional 653,032 shares during the period. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PSX shares. Wolfe Research raised Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Barclays reduced their target price on Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. Wells Fargo & Company lifted their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Mizuho reduced their target price on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating on the stock in a report on Monday, December 16th. Finally, Piper Sandler cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $148.00.

Phillips 66 Trading Down 3.6 %

PSX traded down $4.66 on Monday, hitting $125.03. The company had a trading volume of 6,054,940 shares, compared to its average volume of 3,714,182. The company has a market cap of $50.97 billion, a PE ratio of 25.31, a PEG ratio of 4.84 and a beta of 1.37. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. 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 business's fifty day simple moving average is $120.89 and its 200 day simple moving average is $126.63.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results 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 net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the business posted $3.09 EPS. Equities research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.68%. Phillips 66's dividend payout ratio (DPR) is presently 93.12%.

Phillips 66 Company 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.