Korea Investment CORP Lowers Position in Phillips 66 (NYSE:PSX)

Korea Investment CORP decreased its stake in shares of Phillips 66 (NYSE:PSX) by 28.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 274,524 shares of the oil and gas company’s stock after selling 108,403 shares during the quarter. Korea Investment CORP owned about 0.07% of Phillips 66 worth $31,277,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. grew its position in shares of Phillips 66 by 10.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after purchasing an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. bought a new position in Phillips 66 during the fourth quarter valued at approximately $1,190,000. Everence Capital Management Inc. bought a new position in Phillips 66 during the fourth quarter valued at approximately $3,033,000. Donoghue Forlines LLC purchased a new position in Phillips 66 during the 4th quarter valued at approximately $1,438,000. Finally, Smith Group Asset Management LLC bought a new stake in Phillips 66 in the 4th quarter worth approximately $1,149,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSX has been the subject of a number of research reports. Mizuho lowered their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective for the company. in a research report on Thursday. Wells Fargo & Company lifted their price objective 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. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research report on Friday, January 3rd. Finally, StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $146.43.

Phillips 66 Trading Down 2.4 %

Phillips 66 stock opened at $121.67 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a market cap of $49.60 billion, a PE ratio of 24.63, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The stock has a 50-day moving average of $124.76 and a two-hundred day moving average of $125.52. Phillips 66 has a one year low of $108.91 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last announced 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 earned $3.09 earnings per share. On average, research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.78%. Phillips 66’s dividend payout ratio is currently 93.12%.

About Phillips 66

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.