Parallel Advisors LLC Sells 301 Shares of Phillips 66 (NYSE:PSX)

Parallel Advisors LLC trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,281 shares of the oil and gas company’s stock after selling 301 shares during the quarter. Parallel Advisors LLC’s holdings in Phillips 66 were worth $1,171,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cibc World Markets Corp raised its stake in shares of Phillips 66 by 14.5% during the 4th quarter. Cibc World Markets Corp now owns 65,428 shares of the oil and gas company’s stock valued at $7,454,000 after purchasing an additional 8,271 shares during the period. GWN Securities Inc. bought a new stake in shares of Phillips 66 during the 4th quarter valued at $815,000. Glenview Trust co raised its stake in shares of Phillips 66 by 6.2% during the 4th quarter. Glenview Trust co now owns 9,168 shares of the oil and gas company’s stock valued at $1,045,000 after purchasing an additional 538 shares during the period. Harbour Investments Inc. raised its stake in shares of Phillips 66 by 11.8% during the 4th quarter. Harbour Investments Inc. now owns 3,660 shares of the oil and gas company’s stock valued at $417,000 after purchasing an additional 385 shares during the period. Finally, Corient Private Wealth LLC increased its stake in Phillips 66 by 25.2% in the 4th quarter. Corient Private Wealth LLC now owns 935,425 shares of the oil and gas company’s stock worth $106,573,000 after acquiring an additional 188,303 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PSX has been the topic of a number of research analyst reports. Wells Fargo & Company upped their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Barclays upped their target price on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Finally, StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. 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.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $149.43.

Phillips 66 Trading Up 0.5 %

Shares of PSX stock opened at $129.05 on Thursday. The stock has a market capitalization of $52.61 billion, a PE ratio of 26.12, a P/E/G ratio of 4.84 and a beta of 1.31. Phillips 66 has a 1-year low of $108.91 and a 1-year high of $174.08. The business has a 50-day moving average of $123.63 and a 200 day moving average of $125.79. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 period in the previous year, the firm earned $3.09 EPS. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio 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.