Phillips 66 (NYSE:PSX) Shares Sold by Tortoise Capital Advisors L.L.C.

Tortoise Capital Advisors L.L.C. reduced its stake in Phillips 66 (NYSE:PSX - Free Report) by 5.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 67,253 shares of the oil and gas company's stock after selling 4,030 shares during the quarter. Tortoise Capital Advisors L.L.C.'s holdings in Phillips 66 were worth $7,662,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Transce3nd LLC purchased a new stake in Phillips 66 during the 4th quarter valued at about $63,000. Trajan Wealth LLC raised its position in Phillips 66 by 11.1% during the fourth quarter. Trajan Wealth LLC now owns 39,120 shares of the oil and gas company's stock valued at $4,457,000 after acquiring an additional 3,903 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC raised its position in Phillips 66 by 28.6% during the fourth quarter. Kayne Anderson Rudnick Investment Management LLC now owns 1,007 shares of the oil and gas company's stock valued at $115,000 after acquiring an additional 224 shares in the last quarter. MML Investors Services LLC lifted its holdings in Phillips 66 by 0.7% in the fourth quarter. MML Investors Services LLC now owns 226,368 shares of the oil and gas company's stock valued at $25,790,000 after acquiring an additional 1,529 shares during the period. Finally, MetLife Investment Management LLC boosted its position in Phillips 66 by 0.4% in the 4th quarter. MetLife Investment Management LLC now owns 109,304 shares of the oil and gas company's stock worth $12,453,000 after purchasing an additional 472 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSX has been the subject of several recent research reports. Barclays cut their target price on shares of Phillips 66 from $135.00 to $106.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. 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 report on Friday, January 3rd. Wells Fargo & Company increased their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Raymond James cut their price target on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, April 9th. Finally, Piper Sandler downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $142.00.

Phillips 66 Trading Up 1.9 %

Shares of NYSE PSX traded up $1.90 during trading on Wednesday, hitting $102.80. 3,055,099 shares of the company were exchanged, compared to its average volume of 2,901,840. 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 12-month low of $91.01 and a 12-month high of $158.38. The company has a fifty day moving average price of $116.80 and a 200-day moving average price of $121.67. The firm has a market capitalization of $41.88 billion, a PE ratio of 20.81, a P/E/G ratio of 4.84 and a beta of 1.17.

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 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 quarter last year, the business earned $3.09 earnings per share. As a group, equities research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a dividend of $1.20 per share. This is a boost from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 4.67%. Phillips 66's dividend payout ratio (DPR) is 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.