Baxter Bros Inc. Cuts Stock Holdings in Phillips 66 (NYSE:PSX)

Baxter Bros Inc. lowered its position in Phillips 66 (NYSE:PSX) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 29,150 shares of the oil and gas company’s stock after selling 637 shares during the period. Baxter Bros Inc.’s holdings in Phillips 66 were worth $3,321,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in PSX. Bogart Wealth LLC increased its stake in Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 120 shares during the last quarter. J.Safra Asset Management Corp purchased a new position in shares of Phillips 66 in the 4th quarter worth approximately $25,000. Stephens Consulting LLC grew its holdings in shares of Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 111 shares in the last quarter. Human Investing LLC purchased a new stake in shares of Phillips 66 during the fourth quarter valued at approximately $30,000. Finally, Webster Bank N. A. lifted its holdings in Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 88 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $126.56 on Tuesday. Phillips 66 has a 52-week low of $108.91 and a 52-week high of $174.08. The stock’s 50-day simple moving average is $124.32 and its 200 day simple moving average is $125.58. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a market capitalization of $51.60 billion, a price-to-earnings ratio of 25.62, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31.

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 (EPS) for the quarter, missing analysts’ consensus estimates 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 company earned $3.09 earnings per share. Research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.63%. Phillips 66’s dividend payout ratio (DPR) is currently 93.12%.

Analyst Ratings Changes

PSX has been the subject of several research analyst reports. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Mizuho decreased their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Barclays boosted their target price on shares of Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Wells Fargo & Company raised 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. Finally, Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $147.54.

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.