Sound View Wealth Advisors Group LLC Reduces Position in Phillips 66 (NYSE:PSX)

Sound View Wealth Advisors Group LLC lowered its position in Phillips 66 (NYSE:PSX) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,684 shares of the oil and gas company’s stock after selling 113 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Phillips 66 were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Summit Global Investments purchased a new position in Phillips 66 in the 3rd quarter worth about $371,000. CWA Asset Management Group LLC purchased a new position in shares of Phillips 66 during the third quarter worth approximately $244,000. Assetmark Inc. raised its stake in shares of Phillips 66 by 20.9% during the third quarter. Assetmark Inc. now owns 2,692 shares of the oil and gas company’s stock valued at $354,000 after acquiring an additional 466 shares in the last quarter. Mesirow Financial Investment Management Inc. boosted its holdings in shares of Phillips 66 by 0.8% in the third quarter. Mesirow Financial Investment Management Inc. now owns 16,308 shares of the oil and gas company’s stock valued at $2,143,000 after purchasing an additional 124 shares during the period. Finally, Covestor Ltd grew its stake in Phillips 66 by 25.4% in the third quarter. Covestor Ltd now owns 514 shares of the oil and gas company’s stock worth $68,000 after purchasing an additional 104 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Wells Fargo & Company increased their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a report on Friday, January 3rd. Barclays dropped their price objective 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. Finally, Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Stock Up 0.2 %

Shares of PSX stock opened at $126.41 on Tuesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08. The firm has a market capitalization of $51.54 billion, a PE ratio of 25.59, a P/E/G ratio of 4.84 and a beta of 1.31. The stock’s 50-day simple moving average is $122.05 and its 200-day simple moving average is $126.21.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) 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 in the previous year, the company earned $3.09 earnings per share. Equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.64%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio is currently 93.12%.

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.