Phillips 66 (NYSE:PSX) Stake Cut by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 0.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,211 shares of the oil and gas company’s stock after selling 206 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Phillips 66 were worth $10,733,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. NewEdge Wealth LLC grew its position in Phillips 66 by 0.5% during the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock valued at $1,732,000 after purchasing an additional 81 shares in the last quarter. JBR Co Financial Management Inc boosted its stake in shares of Phillips 66 by 0.9% during the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock valued at $1,085,000 after buying an additional 85 shares during the period. Nwam LLC boosted its stake in shares of Phillips 66 by 2.2% during the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock valued at $442,000 after buying an additional 85 shares during the period. Webster Bank N. A. grew 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. Finally, Cobblestone Capital Advisors LLC NY increased its stake in shares of Phillips 66 by 0.5% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock worth $2,307,000 after acquiring an additional 89 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on PSX. Wells Fargo & Company lifted their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Mizuho reduced their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Wolfe Research upgraded 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. UBS Group reduced their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Finally, Barclays dropped their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Stock Performance

Shares of PSX opened at $127.39 on Friday. The company has a market capitalization of $51.94 billion, a PE ratio of 25.79, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37. Phillips 66 has a one year low of $108.90 and a one year high of $174.08. 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 fifty day moving average price is $120.21 and its 200 day moving average price is $126.90.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates 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 prior year, the business earned $3.09 earnings per share. As a group, analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be issued a dividend of $1.15 per share. The ex-dividend date is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.61%. Phillips 66’s dividend payout ratio (DPR) is presently 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.