Krane Funds Advisors LLC Trims Position in Phillips 66 (NYSE:PSX)

Krane Funds Advisors LLC lowered its holdings in Phillips 66 (NYSE:PSX) by 14.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,008 shares of the oil and gas company’s stock after selling 342 shares during the period. Krane Funds Advisors LLC’s holdings in Phillips 66 were worth $229,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. grew its holdings in Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after purchasing an additional 4,515 shares during the period. Flavin Financial Services Inc. purchased a new stake in shares of Phillips 66 during the 4th quarter worth about $1,190,000. Everence Capital Management Inc. acquired a new stake in Phillips 66 during the 4th quarter worth approximately $3,033,000. Donoghue Forlines LLC purchased a new position in Phillips 66 in the fourth quarter valued at approximately $1,438,000. Finally, Smith Group Asset Management LLC acquired a new stake in shares of Phillips 66 in the fourth quarter worth $1,149,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PSX. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target 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. Wells Fargo & Company raised their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Barclays boosted their price target on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Finally, Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $146.43.

Phillips 66 Stock Performance

NYSE:PSX opened at $98.65 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average of $124.24 and a 200-day moving average of $125.09. Phillips 66 has a twelve month low of $95.67 and a twelve month high of $171.41. The firm has a market cap of $40.22 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX) last issued 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 firm earned $3.09 earnings per share. Analysts forecast that Phillips 66 will post 6.8 earnings per share 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 paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Phillips 66 Company 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.