Phillips 66 (NYSE:PSX) Shares Sold by Investors Asset Management of Georgia Inc. GA ADV

Investors Asset Management of Georgia Inc. GA ADV reduced its position in shares of Phillips 66 (NYSE:PSX) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,702 shares of the oil and gas company’s stock after selling 100 shares during the quarter. Investors Asset Management of Georgia Inc. GA ADV’s holdings in Phillips 66 were worth $308,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. nVerses Capital LLC bought a new stake in Phillips 66 in the third quarter worth about $26,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Phillips 66 by 22.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 118,782 shares of the oil and gas company’s stock worth $15,614,000 after purchasing an additional 21,840 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Phillips 66 by 40.2% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 28,296 shares of the oil and gas company’s stock worth $3,720,000 after purchasing an additional 8,110 shares in the last quarter. Eastern Bank acquired a new stake in Phillips 66 during the third quarter valued at approximately $348,000. Finally, Greenleaf Trust boosted its holdings in Phillips 66 by 4.4% during the third quarter. Greenleaf Trust now owns 11,353 shares of the oil and gas company’s stock worth $1,492,000 after buying an additional 481 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Up 1.3 %

PSX stock opened at $131.67 on Friday. The company has a 50 day moving average of $119.05 and a two-hundred day moving average of $127.13. The company has a market cap of $54.38 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 4.78 and a beta of 1.37. Phillips 66 has a 12-month low of $108.90 and a 12-month 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.

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 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 period in the previous year, the business earned $3.09 EPS. On average, equities analysts anticipate that Phillips 66 will post 6.8 earnings per share 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. Investors of record on Monday, February 24th will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.49%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s payout ratio is presently 93.12%.

Analyst Ratings Changes

PSX has been the topic of several research reports. Wells Fargo & Company upped their price target on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report 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. UBS Group decreased their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, February 14th. Finally, Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

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.