Phillips 66 (NYSE:PSX) Stake Cut by Mcdaniel Terry & Co.

Mcdaniel Terry & Co. trimmed its stake in Phillips 66 (NYSE:PSX) by 13.8% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,730 shares of the oil and gas company’s stock after selling 438 shares during the quarter. Mcdaniel Terry & Co.’s holdings in Phillips 66 were worth $311,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in PSX. Van ECK Associates Corp raised 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 valued at $10,753,000 after purchasing an additional 60,355 shares in the last quarter. Flavin Financial Services Inc. purchased a new position in Phillips 66 in the 4th quarter worth about $1,190,000. Everence Capital Management Inc. purchased a new position in Phillips 66 in the 4th quarter worth about $3,033,000. Donoghue Forlines LLC acquired a new stake in Phillips 66 during the 4th quarter worth about $1,438,000. Finally, Mizuho Securities USA LLC boosted its position in 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 acquiring an additional 2,467,316 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. UBS Group reduced their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, February 14th. Barclays dropped their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, 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 research note on Friday, January 3rd. One investment 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’s stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Stock Performance

PSX opened at $130.12 on Thursday. The business has a fifty day simple moving average of $118.90 and a 200 day simple moving average of $127.10. The company has a market capitalization of $53.74 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 4.79 and a beta of 1.37. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. 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) last announced its quarterly earnings data 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 period last year, the firm earned $3.09 earnings per share. 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. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.54%. Phillips 66’s payout ratio is presently 93.12%.

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.