Amalgamated Bank Lowers Stock Holdings in Phillips 66 (NYSE:PSX)

Amalgamated Bank lessened its position in Phillips 66 (NYSE:PSX) by 3.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 79,201 shares of the oil and gas company’s stock after selling 3,222 shares during the quarter. Amalgamated Bank’s holdings in Phillips 66 were worth $9,023,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Van ECK Associates Corp increased its stake in Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after purchasing an additional 60,355 shares during the period. Flavin Financial Services Inc. purchased a new position in shares of Phillips 66 in the fourth quarter valued at approximately $1,190,000. Everence Capital Management Inc. acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $3,033,000. Donoghue Forlines LLC purchased a new stake in Phillips 66 during the 4th quarter worth approximately $1,438,000. Finally, Mizuho Securities USA LLC lifted its holdings in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after buying an additional 2,467,316 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the subject of several research reports. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research note on Friday, January 3rd. Barclays cut their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Mizuho decreased their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. Finally, StockNews.com upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Saturday. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Trading Down 0.7 %

Shares of Phillips 66 stock opened at $126.21 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 company has a fifty day simple moving average of $119.60 and a 200-day simple moving average of $126.91. The stock has a market cap of $52.12 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 4.84 and a beta of 1.37. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 quarter in the previous year, the firm earned $3.09 earnings per share. On average, equities analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be given a $1.15 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.64%. Phillips 66’s dividend payout ratio (DPR) is presently 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.