Rhumbline Advisers Lowers Stake in Phillips 66 (NYSE:PSX)

Rhumbline Advisers reduced its stake in shares of Phillips 66 (NYSE:PSX) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 765,601 shares of the oil and gas company’s stock after selling 16,642 shares during the quarter. Rhumbline Advisers’ holdings in Phillips 66 were worth $87,225,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Roman Butler Fullerton & Co. boosted its stake in shares of Phillips 66 by 4.0% during the fourth quarter. Roman Butler Fullerton & Co. now owns 2,786 shares of the oil and gas company’s stock valued at $343,000 after purchasing an additional 107 shares during the period. Asset Planning Inc bought a new stake in shares of Phillips 66 in the fourth quarter valued at about $90,000. V Square Quantitative Management LLC raised its holdings in shares of Phillips 66 by 4.2% in the fourth quarter. V Square Quantitative Management LLC now owns 6,543 shares of the oil and gas company’s stock valued at $745,000 after acquiring an additional 264 shares in the last quarter. First Merchants Corp raised its holdings in shares of Phillips 66 by 5.0% in the fourth quarter. First Merchants Corp now owns 16,580 shares of the oil and gas company’s stock valued at $1,889,000 after acquiring an additional 784 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in shares of Phillips 66 by 16.8% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 10,758 shares of the oil and gas company’s stock valued at $1,226,000 after acquiring an additional 1,546 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

PSX opened at $128.24 on Friday. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market cap of $52.96 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. The firm’s 50-day moving average price is $118.74 and its 200-day moving average price is $127.45.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate 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 last year, the company posted $3.09 EPS. As a group, equities analysts anticipate that Phillips 66 will post 7.14 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.59%. Phillips 66’s payout ratio is currently 93.12%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday. Barclays decreased their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, Mizuho reduced their target price 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Company 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.