Sandy Spring Bank Trims Holdings in Phillips 66 (NYSE:PSX)

Sandy Spring Bank decreased its holdings in Phillips 66 (NYSE:PSX) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,209 shares of the oil and gas company’s stock after selling 183 shares during the quarter. Sandy Spring Bank’s holdings in Phillips 66 were worth $707,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. NewEdge Wealth LLC raised its position in Phillips 66 by 0.5% in the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock valued at $1,732,000 after purchasing an additional 81 shares during the last quarter. JBR Co Financial Management Inc raised its position in Phillips 66 by 0.9% in the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock valued at $1,085,000 after purchasing an additional 85 shares during the last quarter. Nwam LLC raised its position in Phillips 66 by 2.2% in the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock valued at $442,000 after purchasing an additional 85 shares during the last quarter. Webster Bank N. A. raised its position in 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 purchasing an additional 88 shares during the last quarter. Finally, PFG Private Wealth Management LLC raised its position in Phillips 66 by 7.7% in the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock valued at $140,000 after purchasing an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Mizuho cut their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Barclays upped their price objective on shares of 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, Wells Fargo & Company upped their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $149.43.

Phillips 66 Stock Performance

NYSE:PSX opened at $125.51 on Friday. The stock has a market cap of $51.17 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08. The firm’s fifty day simple moving average is $124.11 and its 200-day simple moving average is $125.71. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) 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 last year, the firm earned $3.09 earnings per share. Analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.67%. Phillips 66’s payout ratio is 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.