Quent Capital LLC Has $220,000 Stock Holdings in Phillips 66 (NYSE:PSX)

Quent Capital LLC lessened its holdings in Phillips 66 (NYSE:PSX) by 14.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,927 shares of the oil and gas company’s stock after selling 324 shares during the period. Quent Capital LLC’s holdings in Phillips 66 were worth $220,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in Phillips 66 by 263.3% in 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 in the last quarter. Flavin Financial Services Inc. acquired a new position in Phillips 66 in the fourth quarter worth about $1,190,000. Everence Capital Management Inc. acquired a new position in Phillips 66 in the fourth quarter worth about $3,033,000. Donoghue Forlines LLC acquired a new position in Phillips 66 in the fourth quarter worth about $1,438,000. Finally, Mizuho Securities USA LLC raised its position in Phillips 66 by 7,549.0% in the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on PSX shares. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wolfe Research raised 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 research note on Friday, January 3rd. UBS Group decreased their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Bank of America started coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They set a “buy” rating and a $156.00 price objective on the stock. Finally, Mizuho decreased their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Price Performance

PSX opened at $125.05 on Thursday. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. The stock has a market capitalization of $51.64 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. 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 50 day simple moving average is $118.94 and its 200-day simple moving average is $127.57.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data 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 net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the firm earned $3.09 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 7.14 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.68%. Phillips 66’s payout ratio is presently 93.12%.

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.