Verdence Capital Advisors LLC Has $962,000 Holdings in Phillips 66 (NYSE:PSX)

Verdence Capital Advisors LLC cut its stake in shares of Phillips 66 (NYSE:PSX) by 8.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,446 shares of the oil and gas company’s stock after selling 781 shares during the period. Verdence Capital Advisors LLC’s holdings in Phillips 66 were worth $962,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. NewEdge Wealth LLC grew its stake 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 valued at $1,732,000 after acquiring an additional 81 shares during the period. JBR Co Financial Management Inc grew its stake 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 valued at $1,085,000 after acquiring an additional 85 shares during the period. Nwam LLC grew its stake 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 valued at $442,000 after acquiring an additional 85 shares during the period. Webster Bank N. A. grew its stake 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 valued at $31,000 after acquiring an additional 88 shares during the period. Finally, Cobblestone Capital Advisors LLC NY grew its stake in Phillips 66 by 0.5% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock valued at $2,307,000 after acquiring an additional 89 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research note on Friday, January 3rd. Wells Fargo & Company boosted their price target on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Barclays cut their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. One equities research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Stock Performance

PSX opened at $119.88 on Thursday. Phillips 66 has a 52-week low of $108.91 and a 52-week high of $174.08. The firm has a market capitalization of $48.88 billion, a PE ratio of 24.27, a PEG ratio of 4.84 and a beta of 1.37. 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 business’s 50-day simple moving average is $121.27 and its 200 day simple moving average is $126.47.

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 the consensus estimate 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 prior year, the business posted $3.09 EPS. As a group, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm 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 dividend on an annualized basis and a yield of 3.84%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) 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.