Pittenger & Anderson Inc. cut its stake in shares of Phillips 66 (NYSE:PSX) by 3.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,084 shares of the company’s stock after selling 2,250 shares during the period. Pittenger & Anderson Inc.’s holdings in Phillips 66 were worth $5,451,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Svenska Handelsbanken AB publ acquired a new stake in shares of Phillips 66 during the third quarter valued at $1,190,000. First Command Bank purchased a new position in Phillips 66 during the fourth quarter valued at approximately $102,000. IndexIQ Advisors LLC increased its position in Phillips 66 by 115.2% in the third quarter. IndexIQ Advisors LLC now owns 1,511 shares of the company’s stock valued at $122,000 after buying an additional 809 shares during the last quarter. Argentus Capital Management LLC increased its position in Phillips 66 by 17.7% in the third quarter. Argentus Capital Management LLC now owns 1,579 shares of the company’s stock valued at $127,000 after buying an additional 237 shares during the last quarter. Finally, Feltz Wealth PLAN Inc. increased its position in Phillips 66 by 14.6% in the third quarter. Feltz Wealth PLAN Inc. now owns 1,598 shares of the company’s stock valued at $128,000 after buying an additional 204 shares during the last quarter. 69.07% of the stock is owned by institutional investors and hedge funds.
Shares of Phillips 66 (NYSE:PSX) opened at 79.94 on Monday. The stock’s 50 day moving average price is $79.28 and its 200-day moving average price is $81.67. The stock has a market cap of $41.39 billion, a price-to-earnings ratio of 27.34 and a beta of 1.33. Phillips 66 has a 52-week low of $73.67 and a 52-week high of $90.87.
Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, February 3rd. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.23. Phillips 66 had a return on equity of 6.24% and a net margin of 1.81%. During the same quarter last year, the business posted $1.31 EPS. On average, analysts predict that Phillips 66 will post $4.40 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 1st. Investors of record on Tuesday, February 21st were given a dividend of $0.63 per share. The ex-dividend date of this dividend was Thursday, February 16th. This represents a $2.52 dividend on an annualized basis and a yield of 3.15%. Phillips 66’s dividend payout ratio (DPR) is currently 86.30%.
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PSX has been the topic of several research reports. Royal Bank of Canada restated a “hold” rating and set a $88.00 price objective on shares of Phillips 66 in a report on Thursday, January 5th. Credit Suisse Group AG raised their price objective on Phillips 66 from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Thursday, January 26th. Barclays PLC reduced their price objective on Phillips 66 from $93.00 to $87.00 and set an “equal weight” rating on the stock in a report on Monday, February 6th. Zacks Investment Research downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Tuesday, February 7th. Finally, Mizuho increased their target price on Phillips 66 from $55.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, February 6th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Phillips 66 has an average rating of “Hold” and an average target price of $83.29.
About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining and marketing, and specialties businesses. The Company operates its business through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment includes its equity investment in DCP Midstream , LLC (DCP Midstream) and its investment in Phillips 66 Partners LP.
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