Phillips 66 (NYSE:PSX) Shares Sold by Scotia Capital Inc.

Scotia Capital Inc. decreased its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 59.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,675 shares of the oil and gas company's stock after selling 5,438 shares during the quarter. Scotia Capital Inc.'s holdings in Phillips 66 were worth $419,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Morse Asset Management Inc bought a new position in Phillips 66 in the third quarter worth approximately $493,000. Invst LLC grew its position in shares of Phillips 66 by 2.4% during the 3rd quarter. Invst LLC now owns 6,201 shares of the oil and gas company's stock worth $815,000 after buying an additional 145 shares in the last quarter. Advisory Resource Group increased its stake in shares of Phillips 66 by 4.3% during the third quarter. Advisory Resource Group now owns 241,527 shares of the oil and gas company's stock valued at $31,749,000 after buying an additional 9,930 shares during the period. World Investment Advisors LLC bought a new stake in shares of Phillips 66 in the third quarter valued at about $796,000. Finally, Arvest Bank Trust Division purchased a new stake in Phillips 66 in the third quarter worth about $1,008,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of Phillips 66 stock traded up $2.31 during midday trading on Friday, hitting $98.88. The company had a trading volume of 2,437,239 shares, compared to its average volume of 2,891,075. The company has a fifty day simple moving average of $118.98 and a 200 day simple moving average of $122.67. The stock has a market cap of $40.29 billion, a price-to-earnings ratio of 20.02, a PEG ratio of 4.84 and a beta of 1.17. 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 12-month low of $91.01 and a 12-month high of $159.25.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data 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 quarter last year, the company earned $3.09 EPS. As a group, analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date was Monday, February 24th. Phillips 66's dividend payout ratio is presently 93.12%.

Analyst Upgrades and Downgrades

A number of research firms have commented on PSX. Wells Fargo & Company raised their target price 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. Mizuho reduced 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 note on Wednesday, April 9th. Barclays lowered their target price on Phillips 66 from $135.00 to $106.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. Piper Sandler downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. Finally, The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective for the company. in a research note on Thursday, March 27th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $142.00.

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.