Tweedy Browne Co LLC lowered its stake in Phillips 66 (NYSE:PSX - Free Report) by 55.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,471 shares of the oil and gas company's stock after selling 16,757 shares during the period. Tweedy Browne Co LLC's holdings in Phillips 66 were worth $1,535,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in PSX. CreativeOne Wealth LLC raised its stake in Phillips 66 by 43.9% in the third quarter. CreativeOne Wealth LLC now owns 3,697 shares of the oil and gas company's stock worth $486,000 after buying an additional 1,128 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in shares of Phillips 66 in the 3rd quarter worth approximately $40,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Phillips 66 in the 3rd quarter valued at approximately $292,000. Benjamin Edwards Inc. boosted its position in shares of Phillips 66 by 557.0% during the third quarter. Benjamin Edwards Inc. now owns 30,072 shares of the oil and gas company's stock valued at $3,954,000 after purchasing an additional 25,495 shares in the last quarter. Finally, Community Bank N.A. grew its stake in Phillips 66 by 3.9% in the third quarter. Community Bank N.A. now owns 16,977 shares of the oil and gas company's stock worth $2,232,000 after purchasing an additional 632 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have commented on the company. Mizuho lowered their price objective on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating for the company in a research report on Monday, December 16th. Barclays upped their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. The Goldman Sachs Group downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a research note on Thursday, March 27th. Wells Fargo & Company boosted their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, StockNews.com lowered Phillips 66 from a "hold" rating to a "sell" rating in a research report on Sunday, March 2nd. One 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. According to MarketBeat.com, Phillips 66 currently has a consensus rating of "Moderate Buy" and an average price target of $146.43.
View Our Latest Analysis on Phillips 66
Phillips 66 Stock Performance
NYSE PSX traded down $16.91 during trading hours on Thursday, hitting $107.15. The company's stock had a trading volume of 6,783,576 shares, compared to its average volume of 2,794,289. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market cap of $43.69 billion, a P/E ratio of 21.69, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The company's 50 day simple moving average is $125.02 and its two-hundred day simple moving average is $125.48. Phillips 66 has a 12 month low of $106.73 and a 12 month high of $174.08.
Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates 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 in the prior year, the company posted $3.09 EPS. As a group, sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.
Phillips 66 Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.29%. Phillips 66's dividend payout ratio (DPR) is currently 93.12%.
About Phillips 66
(
Free Report)
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.
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