Royal London Asset Management Ltd. Sells 3,087 Shares of Phillips 66 (NYSE:PSX)

Royal London Asset Management Ltd. lowered its position in Phillips 66 (NYSE:PSX) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 173,402 shares of the oil and gas company’s stock after selling 3,087 shares during the period. Royal London Asset Management Ltd.’s holdings in Phillips 66 were worth $19,756,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. NewEdge Wealth LLC boosted its holdings in Phillips 66 by 0.5% in the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock worth $1,732,000 after acquiring an additional 81 shares in the last quarter. JBR Co Financial Management Inc boosted its holdings in Phillips 66 by 0.9% in the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock worth $1,085,000 after acquiring an additional 85 shares in the last quarter. Nwam LLC boosted its holdings in Phillips 66 by 2.2% in the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock worth $442,000 after acquiring an additional 85 shares in the last quarter. Webster Bank N. A. boosted its holdings in Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 88 shares in the last quarter. Finally, PFG Private Wealth Management LLC lifted its holdings in shares of Phillips 66 by 7.7% in the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock valued at $140,000 after purchasing an additional 88 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $125.51 on Friday. 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 business has a fifty day simple moving average of $124.11 and a two-hundred day simple moving average of $125.71. Phillips 66 has a 1 year low of $108.91 and a 1 year high of $174.08. The company has a market capitalization of $51.17 billion, a P/E ratio of 25.41, a P/E/G ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (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 previous year, the company earned $3.09 earnings per share. On average, analysts expect 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 was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio is currently 93.12%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PSX shares. 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 report on Friday, January 3rd. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wells Fargo & Company raised their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Mizuho dropped their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Finally, Barclays raised their target price on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. One 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. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.43.

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.