Phillips 66 (NYSE:PSX) Stock Position Decreased by GeoWealth Management LLC

GeoWealth Management LLC lowered its holdings in Phillips 66 (NYSE:PSX) by 7.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,105 shares of the oil and gas company’s stock after selling 159 shares during the period. GeoWealth Management LLC’s holdings in Phillips 66 were worth $240,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Norges Bank acquired a new position in Phillips 66 during the 4th quarter valued at approximately $497,648,000. Raymond James Financial Inc. acquired a new position in shares of Phillips 66 during the fourth quarter valued at $168,790,000. Amundi grew its position 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 acquiring an additional 753,653 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Phillips 66 by 166.7% in the 4th quarter. National Bank of Canada FI now owns 1,134,582 shares of the oil and gas company’s stock worth $129,266,000 after acquiring an additional 709,219 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in 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 purchasing an additional 639,323 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Up 3.9 %

PSX stock opened at $100.83 on Wednesday. The firm has a market cap of $41.08 billion, a PE ratio of 20.41, a P/E/G ratio of 4.84 and a beta of 1.17. Phillips 66 has a 12 month low of $91.01 and a 12 month 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 firm has a 50 day simple moving average of $117.31 and a 200 day simple moving average of $121.80.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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 last year, the company posted $3.09 EPS. Equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business 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 $1.20 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.76%. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PSX shares. Raymond James dropped their price target 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, April 9th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Wells Fargo & Company boosted their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Scotiabank lowered their price target on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Finally, Barclays reduced their price objective on shares of Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $142.00.

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.