Sequoia Financial Advisors LLC Grows Stock Holdings in Phillips 66 (NYSE:PSX)

Sequoia Financial Advisors LLC grew its holdings in Phillips 66 (NYSE:PSX) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 29,532 shares of the oil and gas company’s stock after acquiring an additional 1,236 shares during the period. Sequoia Financial Advisors LLC’s holdings in Phillips 66 were worth $3,365,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PSX. Saturna Capital Corp raised its position in Phillips 66 by 204.7% during the fourth quarter. Saturna Capital Corp now owns 5,268 shares of the oil and gas company’s stock worth $600,000 after acquiring an additional 3,539 shares during the period. Wealthfront Advisers LLC raised its position in shares of Phillips 66 by 173.0% in the fourth quarter. Wealthfront Advisers LLC now owns 141,859 shares of the oil and gas company’s stock valued at $16,162,000 after buying an additional 89,902 shares during the last quarter. Cushing Capital Partners LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $815,000. King Luther Capital Management Corp raised its position in shares of Phillips 66 by 1.8% in the fourth quarter. King Luther Capital Management Corp now owns 42,095 shares of the oil and gas company’s stock valued at $4,796,000 after buying an additional 755 shares during the last quarter. Finally, Dearborn Partners LLC raised its position in shares of Phillips 66 by 8.1% in the fourth quarter. Dearborn Partners LLC now owns 6,669 shares of the oil and gas company’s stock valued at $760,000 after buying an additional 502 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Barclays dropped their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Finally, Mizuho dropped their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Trading Down 1.3 %

NYSE PSX opened at $122.42 on Friday. The firm has a 50 day simple moving average of $122.61 and a 200-day simple moving average of $126.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a one year low of $108.91 and a one year high of $174.08. The firm has a market cap of $49.91 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate 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 business posted $3.09 earnings per share. Equities research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

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

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.