Schroder Investment Management Group Reduces Stock Position in Phillips 66 (NYSE:PSX)

Schroder Investment Management Group cut its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 72.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 54,505 shares of the oil and gas company's stock after selling 139,861 shares during the quarter. Schroder Investment Management Group's holdings in Phillips 66 were worth $6,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. NewEdge Wealth LLC grew its position in Phillips 66 by 0.5% in the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock worth $1,732,000 after acquiring an additional 81 shares in the last quarter. JBR Co Financial Management Inc lifted its stake in Phillips 66 by 0.9% during the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company's stock worth $1,085,000 after purchasing an additional 85 shares during the last quarter. Nwam LLC boosted its holdings in shares of Phillips 66 by 2.2% in the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock worth $442,000 after purchasing an additional 85 shares in the last quarter. Webster Bank N. A. increased its position 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 purchasing an additional 88 shares during the last quarter. Finally, PFG Private Wealth Management LLC raised its holdings in shares of Phillips 66 by 7.7% during the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock valued at $140,000 after buying an additional 88 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

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Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wolfe Research raised shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. Mizuho dropped their price objective on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. StockNews.com cut shares of Phillips 66 from a "hold" rating to a "sell" rating in a research report on Sunday, March 2nd. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, Piper Sandler lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $146.43.

Phillips 66 Stock Down 8.0 %

PSX stock traded down $8.53 on Friday, reaching $98.65. 6,420,619 shares of the company traded hands, compared to its average volume of 2,809,631. The firm has a fifty day simple moving average of $124.24 and a 200-day simple moving average of $125.13. The company has a market cap of $40.22 billion, a P/E ratio of 19.97, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. Phillips 66 has a one year low of $95.67 and a one year high of $171.41. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 prior year, the company earned $3.09 EPS. Research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

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

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.