Adell Harriman & Carpenter Inc. Sells 9,810 Shares of Phillips 66 (NYSE:PSX)

Adell Harriman & Carpenter Inc. lowered its holdings in Phillips 66 (NYSE:PSX) by 10.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,146 shares of the oil and gas company’s stock after selling 9,810 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Phillips 66 were worth $9,815,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of PSX. Mizuho Securities USA LLC lifted its holdings in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares in the last quarter. ING Groep NV increased its position in shares of Phillips 66 by 123.2% during the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after buying an additional 653,032 shares during the period. Bank of Montreal Can lifted its holdings in shares of Phillips 66 by 63.4% in the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after buying an additional 633,970 shares in the last quarter. Mizuho Markets Americas LLC bought a new position in shares of Phillips 66 in the third quarter valued at approximately $70,983,000. Finally, Assenagon Asset Management S.A. grew its stake in Phillips 66 by 73.2% during the third quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock valued at $96,294,000 after acquiring an additional 309,507 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 2.1 %

PSX stock opened at $128.24 on Friday. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The company has a market capitalization of $52.96 billion, a PE ratio of 25.96, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. The company’s 50 day moving average price is $118.75 and its two-hundred day moving average price is $127.54. 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) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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 in the previous year, the firm posted $3.09 earnings per share. As a group, analysts predict that Phillips 66 will post 7.14 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date is Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Wall Street Analysts Forecast Growth

PSX has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday. Barclays cut their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, Mizuho lowered their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $148.00.

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.