Keybank National Association OH Lowers Stock Position in Phillips 66 (NYSE:PSX)

Keybank National Association OH lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 6.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 144,643 shares of the oil and gas company’s stock after selling 10,501 shares during the period. Keybank National Association OH’s holdings in Phillips 66 were worth $16,479,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bogart Wealth LLC boosted 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 acquiring an additional 120 shares in the last quarter. Stephens Consulting LLC lifted its holdings in shares of Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares during the last quarter. Human Investing LLC bought a new stake in shares of Phillips 66 in the 4th quarter worth approximately $30,000. Webster Bank N. A. grew its stake in shares of Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after buying an additional 88 shares during the last quarter. Finally, YANKCOM Partnership bought a new position in Phillips 66 during the 4th quarter valued at approximately $31,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Down 2.0 %

PSX stock opened at $122.48 on Wednesday. The business’s 50-day moving average is $121.11 and its two-hundred day moving average is $126.51. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The company has a market cap of $49.93 billion, a price-to-earnings ratio of 24.79, a P/E/G ratio of 4.84 and a beta of 1.37. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08.

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

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be issued a $1.15 dividend. The ex-dividend date is Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.76%. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

Analysts Set New Price Targets

PSX has been the topic of several analyst reports. Wells Fargo & Company boosted their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. 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 upgraded 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. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Barclays cut 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 report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.