Todd Asset Management LLC Has $21.40 Million Stock Position in Phillips 66 (NYSE:PSX)

Todd Asset Management LLC cut its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 48.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 187,841 shares of the oil and gas company's stock after selling 175,440 shares during the quarter. Todd Asset Management LLC's holdings in Phillips 66 were worth $21,401,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PSX. Wealth Enhancement Advisory Services LLC grew its position in Phillips 66 by 8.3% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 123,288 shares of the oil and gas company's stock worth $16,206,000 after purchasing an additional 9,414 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in shares of Phillips 66 by 1.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 199,461 shares of the oil and gas company's stock valued at $26,076,000 after buying an additional 3,094 shares during the period. Semanteon Capital Management LP acquired a new stake in Phillips 66 during the third quarter worth about $967,000. Inscription Capital LLC increased its stake in Phillips 66 by 9.2% during the third quarter. Inscription Capital LLC now owns 14,640 shares of the oil and gas company's stock valued at $1,924,000 after acquiring an additional 1,230 shares during the period. Finally, Pallas Capital Advisors LLC increased its stake in Phillips 66 by 14.5% during the third quarter. Pallas Capital Advisors LLC now owns 2,284 shares of the oil and gas company's stock valued at $294,000 after acquiring an additional 289 shares during the period. 76.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PSX has been the subject of a number of research reports. Wolfe Research upgraded Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. StockNews.com upgraded shares of Phillips 66 from a "sell" rating to a "hold" rating in a research note on Saturday, February 22nd. Mizuho decreased their price target 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. Piper Sandler lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Finally, Barclays lowered their target price on shares of Phillips 66 from $124.00 to $115.00 and set an "equal weight" rating on the stock in a report on Monday, January 13th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $148.00.

Phillips 66 Trading Up 1.9 %

Shares of Phillips 66 stock traded up $2.40 during trading on Friday, reaching $129.81. 5,739,901 shares of the company were exchanged, compared to its average volume of 3,654,164. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The business has a 50-day moving average price of $120.21 and a 200-day moving average price of $126.90. 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 $52.92 billion, a price-to-earnings ratio of 26.28, a P/E/G ratio of 4.84 and a beta of 1.37.

Phillips 66 (NYSE:PSX - Get Free Report) last posted 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 return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the business earned $3.09 EPS. Sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.54%. The ex-dividend date is Monday, February 24th. Phillips 66's payout ratio is presently 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.