Financial Advocates Investment Management lowered its position in Phillips 66 (NYSE:PSX) by 21.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,066 shares of the oil and gas company’s stock after selling 1,987 shares during the quarter. Financial Advocates Investment Management’s holdings in Phillips 66 were worth $226,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Torray LLC boosted its stake in Phillips 66 by 0.6% during the fourth quarter. Torray LLC now owns 16,962 shares of the oil and gas company’s stock worth $1,461,000 after buying an additional 106 shares during the period. Pflug Koory LLC boosted its stake in Phillips 66 by 3.2% during the fourth quarter. Pflug Koory LLC now owns 3,584 shares of the oil and gas company’s stock worth $309,000 after buying an additional 110 shares during the period. Coastline Trust Co boosted its stake in Phillips 66 by 0.7% during the fourth quarter. Coastline Trust Co now owns 16,200 shares of the oil and gas company’s stock worth $1,395,000 after buying an additional 111 shares during the period. First Foundation Advisors boosted its stake in Phillips 66 by 2.1% during the fourth quarter. First Foundation Advisors now owns 5,357 shares of the oil and gas company’s stock worth $462,000 after buying an additional 112 shares during the period. Finally, Stock Yards Bank & Trust Co. boosted its stake in Phillips 66 by 0.9% during the fourth quarter. Stock Yards Bank & Trust Co. now owns 13,164 shares of the oil and gas company’s stock worth $1,134,000 after buying an additional 115 shares during the period. 69.97% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have weighed in on PSX shares. Raymond James lowered their target price on shares of Phillips 66 from $125.00 to $120.00 and set an “outperform” rating for the company in a research note on Monday, December 31st. Citigroup increased their price target on shares of Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, March 4th. Argus reduced their price target on shares of Phillips 66 to $116.00 and set a “buy” rating on the stock in a research report on Thursday, February 14th. Piper Jaffray Companies reissued an “overweight” rating on shares of Phillips 66 in a research report on Thursday, January 10th. Finally, Jefferies Financial Group raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Thursday, December 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $120.27.
Shares of PSX opened at $98.55 on Friday. The stock has a market cap of $44.99 billion, a PE ratio of 8.42, a price-to-earnings-growth ratio of 1.38 and a beta of 0.94. Phillips 66 has a 1 year low of $78.44 and a 1 year high of $123.97. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.08 and a current ratio of 1.48.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Friday, February 8th. The oil and gas company reported $4.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.76 by $2.11. The business had revenue of $29.84 billion for the quarter, compared to analysts’ expectations of $35.51 billion. Phillips 66 had a net margin of 4.90% and a return on equity of 21.71%. During the same quarter in the prior year, the company earned $1.07 earnings per share. As a group, analysts predict that Phillips 66 will post 8.41 EPS for the current year.
The firm also recently declared 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 3.25%. Phillips 66’s dividend payout ratio is presently 27.33%.
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Phillips 66 Profile
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; provides terminaling and storage services for crude oil and 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.
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