Kovack Advisors Inc. Trims Position in Phillips 66 (NYSE:PSX)

Kovack Advisors Inc. lessened its position in shares of Phillips 66 (NYSE:PSX) by 15.7% in the fourth quarter, Holdings Channel reports. The fund owned 2,290 shares of the oil and gas company’s stock after selling 427 shares during the quarter. Kovack Advisors Inc.’s holdings in Phillips 66 were worth $261,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of PSX. K.J. Harrison & Partners Inc bought a new position in shares of Phillips 66 in the fourth quarter worth about $229,000. Apriem Advisors boosted its stake in Phillips 66 by 9.7% during the fourth quarter. Apriem Advisors now owns 2,368 shares of the oil and gas company’s stock valued at $270,000 after buying an additional 210 shares during the last quarter. Nwam LLC boosted its stake in Phillips 66 by 2.2% during the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock valued at $442,000 after buying an additional 85 shares during the last quarter. Heritage Investors Management Corp boosted its stake in Phillips 66 by 0.8% during the fourth quarter. Heritage Investors Management Corp now owns 82,381 shares of the oil and gas company’s stock valued at $9,386,000 after buying an additional 682 shares during the last quarter. Finally, Whipplewood Advisors LLC bought a new position in Phillips 66 during the fourth quarter valued at approximately $46,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 1.9 %

Shares of PSX opened at $129.81 on Friday. The firm has a market capitalization of $52.92 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 4.84 and a beta of 1.37. 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 has a 1-year low of $108.90 and a 1-year high of $174.08. The company has a 50-day moving average of $120.60 and a 200 day moving average of $126.80.

Phillips 66 (NYSE:PSX) last posted its quarterly 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 quarter in the prior year, the company posted $3.09 EPS. On average, research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. The ex-dividend date is Monday, February 24th. Phillips 66’s dividend payout ratio is 93.12%.

Analysts Set New Price Targets

A number of equities analysts recently commented on PSX shares. Wells Fargo & Company increased their price target on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Barclays dropped their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company 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. Finally, StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 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.