Bryn Mawr Capital Management LLC Sells 66,094 Shares of Phillips 66 (NYSE:PSX)

Bryn Mawr Capital Management LLC decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 83.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,900 shares of the oil and gas company’s stock after selling 66,094 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Phillips 66 were worth $1,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Webster Bank N. A. grew its holdings in Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 88 shares during the period. Cobblestone Capital Advisors LLC NY grew its stake in shares of Phillips 66 by 0.5% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock valued at $2,307,000 after acquiring an additional 89 shares during the period. Avestar Capital LLC increased its holdings in Phillips 66 by 5.1% in the 3rd quarter. Avestar Capital LLC now owns 1,885 shares of the oil and gas company’s stock worth $248,000 after acquiring an additional 92 shares in the last quarter. Pinnacle Bancorp Inc. raised its stake in Phillips 66 by 3.9% during the 4th quarter. Pinnacle Bancorp Inc. now owns 2,535 shares of the oil and gas company’s stock worth $289,000 after acquiring an additional 95 shares during the period. Finally, Everpar Advisors LLC lifted its holdings in Phillips 66 by 2.5% during the fourth quarter. Everpar Advisors LLC now owns 4,005 shares of the oil and gas company’s stock valued at $456,000 after purchasing an additional 96 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of analyst reports. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, February 14th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research note on Friday, January 3rd. Wells Fargo & Company boosted their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Finally, UBS Group lowered their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Trading Up 1.3 %

Shares of PSX opened at $131.67 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 company’s fifty day moving average is $119.05 and its 200 day moving average is $127.13. The stock has a market capitalization of $54.38 billion, a PE ratio of 26.65, a P/E/G ratio of 4.79 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its 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 quarter in the prior year, the company earned $3.09 earnings per share. Sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed 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. 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 3.49%. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

About Phillips 66

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.