Brooks Moore & Associates Inc. Sells 100 Shares of Phillips 66 (NYSE:PSX)

Brooks Moore & Associates Inc. lowered its stake in shares of Phillips 66 (NYSE:PSX) by 4.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,085 shares of the oil and gas company’s stock after selling 100 shares during the period. Brooks Moore & Associates Inc.’s holdings in Phillips 66 were worth $238,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PSX. Bank of New York Mellon Corp boosted its position in Phillips 66 by 7.3% during the fourth 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 in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Phillips 66 by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock valued at $968,844,000 after buying an additional 82,758 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Phillips 66 by 283.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock worth $686,618,000 after buying an additional 4,455,220 shares during the last quarter. Northern Trust Corp raised its stake in shares of Phillips 66 by 10.6% during the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company’s stock worth $522,834,000 after acquiring an additional 440,107 shares in the last quarter. Finally, Norges Bank purchased a new stake in Phillips 66 during the fourth quarter valued at approximately $497,648,000. Institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Phillips 66 from $138.00 to $131.00 and set an “overweight” rating on the stock in a report on Tuesday, April 29th. StockNews.com raised Phillips 66 from a “sell” rating to a “hold” rating in a research report on Monday, April 28th. Raymond James lowered their price target on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, April 9th. Mizuho decreased their price objective on shares of Phillips 66 from $140.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Finally, Morgan Stanley dropped their target price on shares of Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $136.36.

Phillips 66 Stock Down 0.3 %

NYSE:PSX opened at $106.87 on Tuesday. 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 company’s fifty day moving average price is $113.08 and its 200-day moving average price is $119.87. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $150.12. The firm has a market capitalization of $43.54 billion, a P/E ratio of 21.63, a PEG ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). The company had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the business posted $1.90 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current 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 dividend of $1.20 per share. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66’s dividend payout ratio (DPR) is currently 109.34%.

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.