Phillips 66 (NYSE:PSX) Holdings Cut by Tocqueville Asset Management L.P.

Tocqueville Asset Management L.P. cut its stake in shares of Phillips 66 (NYSE:PSX) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,617 shares of the oil and gas company’s stock after selling 111 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Phillips 66 were worth $3,032,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. TrinityPoint Wealth LLC lifted its stake in Phillips 66 by 2.4% in the third quarter. TrinityPoint Wealth LLC now owns 5,312 shares of the oil and gas company’s stock valued at $698,000 after buying an additional 122 shares during the last quarter. Quest Partners LLC increased its holdings in shares of 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 acquiring an additional 3,248 shares during the period. Meeder Advisory Services Inc. lifted its position in Phillips 66 by 4.7% in the 3rd quarter. Meeder Advisory Services Inc. now owns 10,013 shares of the oil and gas company’s stock valued at $1,316,000 after purchasing an additional 449 shares during the last quarter. Caprock Group LLC boosted its stake in Phillips 66 by 1.3% during the 3rd quarter. Caprock Group LLC now owns 9,694 shares of the oil and gas company’s stock valued at $1,274,000 after purchasing an additional 127 shares during the period. Finally, OneAscent Financial Services LLC bought a new position in Phillips 66 in the 3rd quarter worth about $359,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

NYSE PSX opened at $128.34 on Wednesday. Phillips 66 has a 1 year low of $108.91 and a 1 year high of $174.08. The business’s fifty day moving average is $123.37 and its two-hundred day moving average is $125.77. The stock has a market capitalization of $52.32 billion, a P/E ratio of 25.98, a P/E/G ratio of 4.84 and a beta of 1.31. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21.

Phillips 66 (NYSE:PSX) last announced its earnings results 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 business earned $3.09 EPS. On average, research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.58%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is currently 93.12%.

Analyst Ratings Changes

A number of brokerages recently issued reports on PSX. Mizuho decreased their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Wells Fargo & Company increased their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Barclays lifted their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday, March 14th. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. 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 currently has a consensus rating of “Moderate Buy” and an average price target of $149.43.

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.