Wilmington Savings Fund Society FSB Has $4.45 Million Holdings in Phillips 66 (NYSE:PSX)

Wilmington Savings Fund Society FSB lessened its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 47.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,858 shares of the oil and gas company's stock after selling 31,119 shares during the quarter. Wilmington Savings Fund Society FSB's holdings in Phillips 66 were worth $4,451,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in shares of Phillips 66 during the 3rd quarter worth $26,000. Values First Advisors Inc. acquired a new position in Phillips 66 during the third quarter worth $30,000. Kings Path Partners LLC bought a new position in Phillips 66 during the second quarter valued at about $38,000. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Phillips 66 in the second quarter worth about $40,000. Finally, Point72 Hong Kong Ltd acquired a new stake in shares of Phillips 66 in the third quarter worth about $40,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PSX. Wells Fargo & Company cut their price objective on Phillips 66 from $167.00 to $161.00 and set an "overweight" rating on the stock in a research note on Monday. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research report on Thursday, October 17th. Morgan Stanley decreased their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. Mizuho dropped their target price on shares of Phillips 66 from $154.00 to $150.00 and set a "neutral" rating on the stock in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. cut their target price on shares of Phillips 66 from $160.00 to $141.00 and set an "overweight" rating for the company in a research report on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $149.23.

Phillips 66 Price Performance

Shares of PSX stock traded down $1.28 during mid-day trading on Friday, reaching $122.71. The company's stock had a trading volume of 947,058 shares, compared to its average volume of 2,653,997. The firm's 50-day moving average is $130.18 and its two-hundred day moving average is $134.05. The company has a market cap of $50.68 billion, a P/E ratio of 15.92, a PEG ratio of 4.14 and a beta of 1.35. Phillips 66 has a 1-year low of $119.77 and a 1-year high of $174.08. 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 (NYSE:PSX - Get Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company's quarterly revenue was down 10.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.63 earnings per share. On average, research analysts predict that Phillips 66 will post 7.56 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date was Monday, November 18th. Phillips 66's dividend payout ratio (DPR) is 59.05%.

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.