Sound View Wealth Advisors Group LLC Cuts Stock Holdings in Phillips 66 (NYSE:PSX)

Sound View Wealth Advisors Group LLC cut its position in shares of Phillips 66 (NYSE:PSX) by 4.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,684 shares of the oil and gas company’s stock after selling 113 shares during the period. Sound View Wealth Advisors Group LLC’s holdings in Phillips 66 were worth $306,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PSX. Oppenheimer & Co. Inc. grew its position in shares of Phillips 66 by 10.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after acquiring an additional 4,515 shares during the period. Flavin Financial Services Inc. purchased a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $1,190,000. Everence Capital Management Inc. acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $3,033,000. Donoghue Forlines LLC purchased a new position in shares of Phillips 66 during the 4th quarter valued at approximately $1,438,000. Finally, Mizuho Securities USA LLC grew its stake in Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on PSX. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Mizuho decreased their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Barclays cut their price objective 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 raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Finally, Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Price Performance

Shares of PSX stock opened at $126.41 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market capitalization of $51.54 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The firm’s 50-day moving average is $122.05 and its two-hundred day moving average is $126.21. Phillips 66 has a 12 month low of $108.91 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) 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 in the previous year, the business posted $3.09 EPS. Analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio is presently 93.12%.

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.