Parallel Advisors LLC Reduces Stake in Phillips 66 (NYSE:PSX)

Parallel Advisors LLC lowered its holdings in Phillips 66 (NYSE:PSX) by 2.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 10,281 shares of the oil and gas company’s stock after selling 301 shares during the quarter. Parallel Advisors LLC’s holdings in Phillips 66 were worth $1,171,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PSX. Quest Partners LLC lifted its holdings in Phillips 66 by 324,800.0% in the 3rd quarter. Quest Partners LLC now owns 3,249 shares of the oil and gas company’s stock worth $427,000 after buying an additional 3,248 shares during the period. Caprock Group LLC raised its position in shares of Phillips 66 by 1.3% in the 3rd quarter. Caprock Group LLC now owns 9,694 shares of the oil and gas company’s stock worth $1,274,000 after acquiring an additional 127 shares in the last quarter. Prospera Financial Services Inc raised its position in shares of Phillips 66 by 6.8% in the 3rd quarter. Prospera Financial Services Inc now owns 29,040 shares of the oil and gas company’s stock worth $3,820,000 after acquiring an additional 1,849 shares in the last quarter. BIP Wealth LLC bought a new position in shares of Phillips 66 in the 3rd quarter worth approximately $204,000. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Phillips 66 in the 3rd quarter worth approximately $4,839,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on PSX shares. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. Mizuho decreased their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Wells Fargo & Company increased their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Barclays raised their price objective on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $149.43.

Phillips 66 Stock Up 0.5 %

Phillips 66 stock opened at $129.05 on Thursday. The firm has a market cap of $52.61 billion, a price-to-earnings ratio of 26.12, a PEG ratio of 4.84 and a beta of 1.31. The stock has a fifty day simple moving average of $123.63 and a two-hundred day simple moving average of $125.79. Phillips 66 has a 12 month low of $108.91 and a 12 month high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

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

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is 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.