NewEdge Advisors LLC Decreases Stake in Phillips 66 (NYSE:PSX)

by · The Cerbat Gem

NewEdge Advisors LLC lessened its stake in shares of Phillips 66 (NYSE:PSX – Free Report) by 6.3% during the 4th quarter, Holdings Channel reports. The firm owned 78,864 shares of the oil and gas company’s stock after selling 5,333 shares during the quarter. NewEdge Advisors LLC’s holdings in Phillips 66 were worth $8,985,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Bogart Wealth LLC increased its position in shares of Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 120 shares during the period. J.Safra Asset Management Corp purchased a new stake in Phillips 66 during the 4th quarter valued at about $25,000. Stephens Consulting LLC increased its holdings in shares of Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares during the period. Graney & King LLC purchased a new position in shares of Phillips 66 in the fourth quarter worth about $28,000. Finally, Human Investing LLC acquired a new stake in shares of Phillips 66 during the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wells Fargo & Company raised their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Barclays decreased their target price on shares of Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. The Goldman Sachs Group cut Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a report on Thursday, March 27th. Finally, StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $142.00.

Get Our Latest Research Report on PSX

Phillips 66 Trading Up 2.4 %

Shares of NYSE:PSX opened at $98.88 on Friday. The business’s 50 day moving average price is $118.98 and its 200-day moving average price is $122.67. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $159.25. The firm has a market capitalization of $40.29 billion, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. 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 – Get Free Report) last announced 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 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. On average, equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 4.65%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio is currently 93.12%.

Phillips 66 Company Profile

(Free Report)

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.

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