Phillips 66 (NYSE:PSX) Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC lessened its stake in Phillips 66 (NYSE:PSX) by 7.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,029 shares of the oil and gas company’s stock after selling 323 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Phillips 66 were worth $459,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Bogart Wealth LLC lifted its holdings in shares of Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 120 shares in the last quarter. Stephens Consulting LLC lifted its holdings in shares of Phillips 66 by 83.5% during the 4th 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. Values First Advisors Inc. acquired a new position in shares of Phillips 66 during the 3rd quarter valued at $30,000. Human Investing LLC acquired a new position in shares of Phillips 66 during the 4th quarter valued at $30,000. Finally, Webster Bank N. A. lifted its holdings in shares of Phillips 66 by 48.4% during the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 88 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on PSX. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. UBS Group reduced their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company lifted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. Finally, Mizuho cut their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Price Performance

PSX opened at $128.78 on Friday. The company has a 50-day moving average of $119.17 and a 200-day moving average of $127.07. The company has a market capitalization of $53.18 billion, a P/E ratio of 26.07, a PEG ratio of 4.84 and a beta of 1.37. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last released its earnings results 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 company posted $3.09 earnings per share. Equities analysts expect that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.57%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s payout ratio is currently 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.