Ingalls & Snyder LLC Trims Stock Position in Phillips 66 (NYSE:PSX)

Ingalls & Snyder LLC reduced its stake in Phillips 66 (NYSE:PSX) by 1.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,032 shares of the oil and gas company’s stock after selling 95 shares during the quarter. Ingalls & Snyder LLC’s holdings in Phillips 66 were worth $1,029,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PSX. Van ECK Associates Corp increased its stake in shares of Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after acquiring an additional 60,355 shares during the period. Flavin Financial Services Inc. purchased a new stake in Phillips 66 in the 4th quarter valued at approximately $1,190,000. Everence Capital Management Inc. acquired a new position in Phillips 66 during the 4th quarter worth approximately $3,033,000. Donoghue Forlines LLC purchased a new position in shares of Phillips 66 during the 4th quarter worth approximately $1,438,000. Finally, Mizuho Securities USA LLC raised its stake in shares of Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after buying an additional 2,467,316 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of recent analyst reports. Barclays reduced their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Wells Fargo & Company boosted their price objective 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. UBS Group dropped their target price on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Bank of America began coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They set a “buy” rating and a $156.00 price target for the company. Finally, Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. One equities 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Trading Up 0.5 %

Shares of PSX stock opened at $125.70 on Friday. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The company has a market capitalization of $51.91 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 5.64 and a beta of 1.37. The firm has a 50-day moving average price of $118.83 and a 200 day moving average price of $127.55. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data 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 net margin of 1.46% and a return on equity of 8.58%. During the same quarter last year, the business posted $3.09 earnings per share. Research analysts forecast that Phillips 66 will post 7.14 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be paid a $1.15 dividend. The ex-dividend date is Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.66%. Phillips 66’s payout ratio is currently 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.