Phillips 66 (NYSE:PSX) Stake Lessened by Private Portfolio Partners LLC

Private Portfolio Partners LLC cut its stake in Phillips 66 (NYSE:PSX) by 23.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,433 shares of the oil and gas company’s stock after selling 725 shares during the period. Private Portfolio Partners LLC’s holdings in Phillips 66 were worth $277,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its holdings in shares of Phillips 66 by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock valued at $1,064,601,000 after acquiring an additional 639,323 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Phillips 66 by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock worth $968,844,000 after purchasing an additional 82,758 shares during the period. Norges Bank bought a new stake in Phillips 66 during the fourth quarter valued at $497,648,000. Amundi raised its holdings in shares of Phillips 66 by 25.7% during the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after purchasing an additional 753,653 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Phillips 66 by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,002,995 shares of the oil and gas company’s stock worth $342,131,000 after purchasing an additional 101,108 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PSX shares. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Barclays increased 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 lowered 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 raised their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, StockNews.com downgraded 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 issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $146.43.

Phillips 66 Stock Performance

Shares of PSX stock opened at $124.11 on Thursday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $50.60 billion, a price-to-earnings ratio of 25.12, a P/E/G ratio of 4.84 and a beta of 1.31. The stock’s fifty day simple moving average is $125.02 and its 200-day simple moving average is $125.48. Phillips 66 has a 1-year low of $108.91 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS 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 in the previous year, the firm earned $3.09 EPS. On average, sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.71%. Phillips 66’s payout ratio is 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.