Quent Capital LLC Has $220,000 Stock Holdings in Phillips 66 (NYSE:PSX)

Quent Capital LLC cut its position in Phillips 66 (NYSE:PSX) by 14.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,927 shares of the oil and gas company’s stock after selling 324 shares during the period. Quent Capital LLC’s holdings in Phillips 66 were worth $220,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in Phillips 66 by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after purchasing an additional 16,941 shares during the period. Mizuho Securities USA LLC raised its holdings in shares of Phillips 66 by 7,549.0% during the third 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. Bank of Montreal Can raised its holdings in shares of Phillips 66 by 63.4% during the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after acquiring an additional 633,970 shares during the period. ING Groep NV raised its holdings in shares of Phillips 66 by 123.2% during the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after acquiring an additional 653,032 shares during the period. Finally, National Pension Service raised its holdings in shares of Phillips 66 by 6.8% during the third quarter. National Pension Service now owns 1,001,734 shares of the oil and gas company’s stock worth $131,678,000 after acquiring an additional 63,349 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PSX. Mizuho dropped their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. UBS Group dropped their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Barclays dropped their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. Finally, Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $125.05 on Thursday. The business’s 50 day moving average price is $118.94 and its two-hundred day moving average price is $127.57. The company has a market cap of $51.64 billion, a PE ratio of 25.31, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 posted $3.09 EPS. On average, analysts predict that Phillips 66 will post 7.14 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.68%. Phillips 66’s dividend payout ratio (DPR) 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.