Marshall Wace LLP Sells 94,355 Shares of Phillips 66 (NYSE:PSX)

Marshall Wace LLP cut its holdings in Phillips 66 (NYSE:PSX) by 46.0% in the fourth quarter, HoldingsChannel reports. The firm owned 110,553 shares of the oil and gas company’s stock after selling 94,355 shares during the period. Marshall Wace LLP’s holdings in Phillips 66 were worth $12,595,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. NewEdge Wealth LLC increased its holdings in Phillips 66 by 0.5% during the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock worth $1,732,000 after buying an additional 81 shares during the last quarter. JBR Co Financial Management Inc increased its stake in shares of Phillips 66 by 0.9% during the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock worth $1,085,000 after purchasing an additional 85 shares during the last quarter. Nwam LLC raised its holdings in shares of Phillips 66 by 2.2% in the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock valued at $442,000 after purchasing an additional 85 shares during the period. Webster Bank N. A. lifted its stake in Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 88 shares during the last quarter. Finally, PFG Private Wealth Management LLC grew its holdings in Phillips 66 by 7.7% during the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock worth $140,000 after purchasing an additional 88 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Barclays cut their price objective on Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. The Goldman Sachs Group cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a research report on Thursday, March 27th. Wells Fargo & Company increased their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Raymond James reduced their target price on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Finally, Scotiabank lowered their price target on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. 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’s stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $142.00.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $97.14 on Tuesday. The stock has a market capitalization of $39.58 billion, a PE ratio of 19.66, a P/E/G ratio of 4.84 and a beta of 1.17. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $159.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The business has a fifty day moving average price of $117.81 and a two-hundred day moving average price of $121.95.

Phillips 66 (NYSE:PSX) last posted 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 return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the prior year, the firm posted $3.09 EPS. As a group, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $1.20 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 4.94%. Phillips 66’s dividend payout ratio (DPR) is currently 93.12%.

Phillips 66 Company 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.