RMB Capital Management LLC lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 13.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,035 shares of the oil and gas company’s stock after selling 917 shares during the quarter. RMB Capital Management LLC’s holdings in Phillips 66 were worth $520,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in PSX. Moody National Bank Trust Division raised its holdings in Phillips 66 by 425.4% in the 4th quarter. Moody National Bank Trust Division now owns 352 shares of the oil and gas company’s stock worth $30,000 after acquiring an additional 285 shares during the period. Proficio Capital Partners LLC raised its holdings in Phillips 66 by 46.1% in the 4th quarter. Proficio Capital Partners LLC now owns 434 shares of the oil and gas company’s stock worth $37,000 after acquiring an additional 137 shares during the period. FNY Investment Advisers LLC bought a new position in Phillips 66 in the 4th quarter worth $37,000. Truehand Inc bought a new position in Phillips 66 in the 4th quarter worth $40,000. Finally, Massey Quick Simon & CO. LLC bought a new position in Phillips 66 in the 4th quarter worth $41,000. Institutional investors and hedge funds own 69.97% of the company’s stock.
NYSE:PSX opened at $98.89 on Wednesday. Phillips 66 has a 52-week low of $78.44 and a 52-week high of $123.97. The company has a current ratio of 1.48, a quick ratio of 1.08 and a debt-to-equity ratio of 0.41. The stock has a market cap of $44.91 billion, a PE ratio of 8.44, a P/E/G ratio of 1.38 and a beta of 0.94.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 19th were given a dividend of $0.80 per share. The ex-dividend date of this dividend was Friday, February 15th. This represents a $3.20 annualized dividend and a dividend yield of 3.24%. Phillips 66’s dividend payout ratio (DPR) is currently 27.33%.
In other news, Chairman Greg C. Garland sold 42,728 shares of Phillips 66 stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $97.61, for a total transaction of $4,170,680.08. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.56% of the stock is currently owned by insiders.
Several research analysts recently commented on PSX shares. Zacks Investment Research downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Thursday, November 22nd. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Piper Jaffray Companies reiterated an “overweight” rating on shares of Phillips 66 in a report on Thursday, January 10th. Raymond James dropped their price objective on shares of Phillips 66 from $125.00 to $120.00 and set an “outperform” rating on the stock in a report on Monday, December 31st. Finally, Citigroup boosted their price objective on shares of Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $120.27.
About Phillips 66
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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