Phillips 66 (NYSE:PSX) Shares Sold by Glass Wealth Management Co LLC

Glass Wealth Management Co LLC lessened its position in shares of Phillips 66 (NYSE:PSX) by 2.0% in the 4th quarter, HoldingsChannel reports. The fund owned 30,109 shares of the oil and gas company’s stock after selling 630 shares during the period. Phillips 66 accounts for about 1.9% of Glass Wealth Management Co LLC’s portfolio, making the stock its 16th biggest holding. Glass Wealth Management Co LLC’s holdings in Phillips 66 were worth $3,430,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PSX. Bogart Wealth LLC boosted its holdings in shares of Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 120 shares in the last quarter. Stephens Consulting LLC boosted its holdings in shares of Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 111 shares in the last quarter. Human Investing LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at $30,000. Webster Bank N. A. boosted its holdings in shares of Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 88 shares in the last quarter. Finally, YANKCOM Partnership acquired a new position in shares of Phillips 66 in the 4th quarter valued at $31,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $122.48 on Wednesday. The company has a 50-day simple moving average of $121.11 and a 200-day simple moving average of $126.51. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $49.93 billion, a PE ratio of 24.79, a P/E/G ratio of 4.84 and a beta of 1.37. Phillips 66 has a 52-week low of $108.90 and a 52-week 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 (EPS) for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the previous year, the company posted $3.09 earnings per share. Equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.76%. Phillips 66’s dividend payout ratio (DPR) is currently 93.12%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PSX shares. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. Wells Fargo & Company increased their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Barclays decreased their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, Mizuho decreased their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

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.