Steward Partners Investment Advisory LLC Sells 19,264 Shares of Phillips 66 (NYSE:PSX)

Steward Partners Investment Advisory LLC reduced its stake in Phillips 66 (NYSE:PSX) by 15.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 105,904 shares of the oil and gas company’s stock after selling 19,264 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Phillips 66 were worth $12,066,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Garrett Wealth Advisory Group LLC raised its stake in Phillips 66 by 2.4% during the fourth quarter. Garrett Wealth Advisory Group LLC now owns 6,415 shares of the oil and gas company’s stock worth $731,000 after buying an additional 150 shares during the last quarter. Fidelis Capital Partners LLC raised its position in shares of Phillips 66 by 5.9% in the 4th quarter. Fidelis Capital Partners LLC now owns 3,067 shares of the oil and gas company’s stock worth $361,000 after acquiring an additional 172 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Phillips 66 in the 4th quarter worth about $49,000. Jones Financial Companies Lllp lifted its stake in shares of Phillips 66 by 40.9% in the 4th quarter. Jones Financial Companies Lllp now owns 34,303 shares of the oil and gas company’s stock valued at $3,908,000 after purchasing an additional 9,959 shares during the period. Finally, SRS Capital Advisors Inc. boosted its position in shares of Phillips 66 by 174.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,699 shares of the oil and gas company’s stock valued at $194,000 after purchasing an additional 1,079 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on PSX shares. 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 report on Friday, January 3rd. Mizuho lowered their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, Barclays cut their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $122.48 on Wednesday. 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 stock has a market cap of $49.93 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37. The stock’s fifty day simple moving average is $121.11 and its two-hundred day simple moving average is $126.51. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate 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 earned $3.09 EPS. As a group, analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.76%. The ex-dividend date is Monday, February 24th. 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.