South Street Advisors LLC Cuts Stock Holdings in Phillips 66 (NYSE:PSX)

South Street Advisors LLC decreased its stake in shares of Phillips 66 (NYSE:PSX) by 20.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,000 shares of the oil and gas company’s stock after selling 1,520 shares during the period. South Street Advisors LLC’s holdings in Phillips 66 were worth $684,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PSX. Glass Wealth Management Co LLC boosted its position in shares of Phillips 66 by 4.4% during the third quarter. Glass Wealth Management Co LLC now owns 30,739 shares of the oil and gas company’s stock valued at $4,041,000 after buying an additional 1,295 shares during the last quarter. TrinityPoint Wealth LLC lifted its holdings in Phillips 66 by 2.4% during the third quarter. TrinityPoint Wealth LLC now owns 5,312 shares of the oil and gas company’s stock worth $698,000 after acquiring an additional 122 shares during the period. Aljian Capital Management LLC bought a new stake in Phillips 66 during the third quarter worth $331,000. Islay Capital Management LLC lifted its holdings in Phillips 66 by 6.5% during the third quarter. Islay Capital Management LLC now owns 4,935 shares of the oil and gas company’s stock worth $649,000 after acquiring an additional 300 shares during the period. Finally, Quest Partners LLC lifted its holdings in Phillips 66 by 324,800.0% during the third 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. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $129.27 on Tuesday. 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 52-week low of $108.91 and a 52-week high of $174.08. The firm has a market cap of $52.70 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 4.84 and a beta of 1.31. The business’s fifty day moving average is $123.11 and its 200 day moving average is $125.85.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data 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 period in the prior year, the business earned $3.09 EPS. Research analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.56%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

Analysts Set New Price Targets

A number of brokerages recently commented on PSX. Barclays lifted their price target on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Wells Fargo & Company lifted their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Mizuho lowered their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. One analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. According to 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.