Standard Life Aberdeen plc trimmed its holdings in shares of Phillips 66 (NYSE:PSX) by 1.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 308,109 shares of the oil and gas company’s stock after selling 4,958 shares during the period. Standard Life Aberdeen plc owned about 0.07% of Phillips 66 worth $34,326,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of PSX. Allred Capital Management LLC bought a new stake in Phillips 66 during the fourth quarter worth $27,000. Lighthouse Financial Advisors Inc. bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $30,000. Savior LLC bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $32,000. JFS Wealth Advisors LLC raised its holdings in shares of Phillips 66 by 56.9% in the 4th quarter. JFS Wealth Advisors LLC now owns 317 shares of the oil and gas company’s stock valued at $35,000 after purchasing an additional 115 shares during the period. Finally, Firestone Capital Management acquired a new stake in Phillips 66 in the 4th quarter valued at about $35,000. Institutional investors own 69.99% of the company’s stock.
Phillips 66 stock traded up $3.89 during trading hours on Thursday, hitting $54.39. The company had a trading volume of 6,014,346 shares, compared to its average volume of 4,263,129. The firm has a 50-day moving average of $73.08 and a 200 day moving average of $99.70. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.24 and a quick ratio of 0.91. The firm has a market cap of $20.03 billion, a PE ratio of 8.02, a PEG ratio of 0.96 and a beta of 1.17. Phillips 66 has a one year low of $40.04 and a one year high of $119.92.
The company also recently declared a quarterly dividend, which was paid on Monday, March 2nd. Investors of record on Tuesday, February 18th were issued a dividend of $0.90 per share. The ex-dividend date was Friday, February 14th. This represents a $3.60 annualized dividend and a yield of 6.62%. Phillips 66’s payout ratio is currently 44.72%.
A number of equities analysts recently commented on PSX shares. Jefferies Financial Group upgraded Phillips 66 from a “hold” rating to a “buy” rating and reduced their price target for the stock from $110.00 to $73.00 in a report on Thursday. Morgan Stanley upgraded Phillips 66 from an “equal weight” rating to an “overweight” rating and set a $68.00 price objective on the stock in a research note on Monday, March 16th. Piper Sandler cut their price objective on Phillips 66 from $139.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. JPMorgan Chase & Co. reduced their target price on Phillips 66 from $118.00 to $106.00 and set an “overweight” rating for the company in a research note on Monday, March 2nd. Finally, Royal Bank of Canada reissued a “hold” rating and set a $73.00 target price on shares of Phillips 66 in a report on Wednesday, March 18th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Phillips 66 currently has a consensus rating of “Buy” and a consensus target price of $93.00.
In other news, Director John E. Lowe purchased 1,000 shares of Phillips 66 stock in a transaction that occurred on Monday, March 2nd. The stock was acquired at an average cost of $74.93 per share, for a total transaction of $74,930.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 0.13% of the company’s stock.
About Phillips 66
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.
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