Skba Capital Management LLC Has $9.65 Million Stake in Phillips 66 (NYSE:PSX)

Skba Capital Management LLC reduced its holdings in shares of Phillips 66 (NYSE:PSX) by 4.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,735 shares of the oil and gas company’s stock after selling 3,650 shares during the period. Phillips 66 accounts for approximately 1.5% of Skba Capital Management LLC’s investment portfolio, making the stock its 28th biggest holding. Skba Capital Management LLC’s holdings in Phillips 66 were worth $9,654,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in PSX. Bogart Wealth LLC grew its stake in Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 120 shares during the period. J.Safra Asset Management Corp bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $25,000. Stephens Consulting LLC grew its position 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 worth $28,000 after buying an additional 111 shares during the period. Graney & King LLC acquired a new position in shares of Phillips 66 during the 4th quarter valued at $28,000. Finally, Human Investing LLC acquired a new position in shares of Phillips 66 during the 4th quarter valued at $30,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Down 2.4 %

PSX opened at $121.67 on Monday. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08. The firm has a market capitalization of $49.60 billion, a P/E ratio of 24.63, a PEG ratio of 4.84 and a beta of 1.31. The company’s 50-day moving average is $124.76 and its 200 day moving average is $125.52. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS 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 firm posted $3.09 EPS. Research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

Wall Street Analyst Weigh In

PSX has been the subject of several research analyst reports. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. The Goldman Sachs Group cut Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a research note on Thursday. Mizuho lowered their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $146.43.

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.