Gulf International Bank UK Ltd Cuts Stock Position in Phillips 66 (NYSE:PSX)

Gulf International Bank UK Ltd decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 1.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 33,192 shares of the oil and gas company’s stock after selling 387 shares during the period. Gulf International Bank UK Ltd’s holdings in Phillips 66 were worth $3,781,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PSX. Van ECK Associates Corp lifted its holdings in 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. acquired a new position in shares of Phillips 66 during the 4th quarter worth about $1,190,000. Everence Capital Management Inc. purchased a new position in Phillips 66 in the 4th quarter valued at about $3,033,000. Donoghue Forlines LLC acquired a new stake in Phillips 66 in the 4th quarter worth about $1,438,000. Finally, Mizuho Securities USA LLC increased its stake 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 buying an additional 2,467,316 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Up 1.6 %

Shares of Phillips 66 stock opened at $127.39 on Friday. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. 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 firm has a market capitalization of $51.94 billion, a price-to-earnings ratio of 25.79, a PEG ratio of 4.84 and a beta of 1.37. The stock has a 50 day moving average of $120.21 and a 200 day moving average of $126.90.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 last year, the company earned $3.09 EPS. As a group, research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders 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 annualized dividend and a dividend yield of 3.61%. Phillips 66’s dividend payout ratio is currently 93.12%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. StockNews.com upgraded Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday, February 22nd. UBS Group decreased their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company upped their target price 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. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Barclays dropped their price objective on shares of 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. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

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.