American Research & Management Co. trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 10.6% in the first quarter, Holdings Channel.com reports. The fund owned 3,784 shares of the oil and gas company’s stock after selling 450 shares during the period. American Research & Management Co.’s holdings in Phillips 66 were worth $309,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Klaas Financial Asset Advisors LLC acquired a new stake in shares of Phillips 66 during the 4th quarter valued at approximately $26,000. Curi Capital acquired a new stake in shares of Phillips 66 during the 4th quarter valued at approximately $28,000. DB Wealth Management Group LLC acquired a new stake in shares of Phillips 66 during the 4th quarter valued at approximately $30,000. Alpha DNA Investment Management LLC acquired a new stake in shares of Phillips 66 during the 4th quarter valued at approximately $31,000. Finally, tru Independence LLC lifted its position in shares of Phillips 66 by 134.0% during the 4th quarter. tru Independence LLC now owns 468 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 268 shares during the period. Institutional investors own 64.56% of the company’s stock.
A number of equities research analysts have recently issued reports on PSX shares. Mizuho lifted their price target on shares of Phillips 66 from $70.00 to $96.00 and gave the company a “buy” rating in a research report on Thursday, March 4th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $65.00 price objective on shares of Phillips 66 in a research note on Monday, March 1st. Piper Sandler cut shares of Phillips 66 from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $80.00 to $85.00 in a research note on Thursday, April 1st. They noted that the move was a valuation call. Zacks Investment Research raised shares of Phillips 66 from a “sell” rating to a “hold” rating and set a $89.00 price objective for the company in a research note on Thursday, March 4th. Finally, Cowen dropped their price objective on shares of Phillips 66 from $83.00 to $80.00 and set an “outperform” rating for the company in a research note on Monday, February 1st. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $82.53.
Shares of NYSE:PSX traded down $1.59 during trading on Thursday, reaching $78.41. 44,813 shares of the company’s stock traded hands, compared to its average volume of 2,890,254. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.22 and a quick ratio of 0.75. Phillips 66 has a 12 month low of $43.27 and a 12 month high of $90.59. The company has a 50 day moving average of $83.92 and a 200-day moving average of $67.98. The stock has a market capitalization of $34.33 billion, a P/E ratio of -12.97, a price-to-earnings-growth ratio of 3.65 and a beta of 1.67.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Thursday, January 28th. The oil and gas company reported ($1.16) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.10). Phillips 66 had a positive return on equity of 3.38% and a negative net margin of 3.45%. The company had revenue of $16.77 billion during the quarter, compared to analyst estimates of $15.88 billion. During the same period in the prior year, the company posted $1.54 earnings per share. Equities research analysts predict that Phillips 66 will post -0.65 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 1st. Shareholders of record on Monday, February 22nd were paid a $0.90 dividend. The ex-dividend date of this dividend was Friday, February 19th. This represents a $3.60 annualized dividend and a yield of 4.59%. Phillips 66’s dividend payout ratio is presently 44.72%.
About Phillips 66
Phillips 66 operates as an energy manufacturing and logistics company. 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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