Azimuth Capital Investment Management LLC Sells 198 Shares of Phillips 66 (NYSE:PSX)

Azimuth Capital Investment Management LLC trimmed its position in Phillips 66 (NYSE:PSX) by 9.3% in the fourth quarter, Holdings Channel reports. The fund owned 1,937 shares of the oil and gas company’s stock after selling 198 shares during the quarter. Azimuth Capital Investment Management LLC’s holdings in Phillips 66 were worth $221,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Morse Asset Management Inc acquired a new position in Phillips 66 in the 3rd quarter valued at approximately $493,000. Neo Ivy Capital Management bought a new stake in shares of Phillips 66 in the third quarter worth $638,000. Sunbelt Securities Inc. increased its holdings in Phillips 66 by 41.0% in the third quarter. Sunbelt Securities Inc. now owns 4,027 shares of the oil and gas company’s stock valued at $529,000 after purchasing an additional 1,171 shares during the period. Arete Wealth Advisors LLC bought a new position in Phillips 66 during the 3rd quarter worth $359,000. Finally, Invst LLC lifted its holdings in Phillips 66 by 2.4% during the 3rd quarter. Invst LLC now owns 6,201 shares of the oil and gas company’s stock worth $815,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PSX shares. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Barclays decreased their target price on shares of Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating for the company in a research report on Thursday. Raymond James reduced their price objective on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday. Mizuho dropped their target price on shares of Phillips 66 from $140.00 to $132.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. One equities research 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 data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $142.21.

Phillips 66 Stock Down 6.3 %

Phillips 66 stock opened at $96.61 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $39.39 billion, a P/E ratio of 19.56, a P/E/G ratio of 4.84 and a beta of 1.17. The firm has a 50 day moving average price of $121.48 and a 200-day moving average price of $123.78. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $166.47.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data 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 net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the business earned $3.09 EPS. As a group, equities analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $1.15 per share. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 4.76%. Phillips 66’s payout ratio is 93.12%.

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.