Aristotle Capital Management LLC Sells 354 Shares of Phillips 66 (NYSE:PSX)

Aristotle Capital Management LLC decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 5.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,705 shares of the oil and gas company’s stock after selling 354 shares during the period. Aristotle Capital Management LLC’s holdings in Phillips 66 were worth $764,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. World Investment Advisors LLC acquired a new position in Phillips 66 during the 3rd quarter valued at about $796,000. Tidal Investments LLC boosted its position in shares of Phillips 66 by 11.8% during the third quarter. Tidal Investments LLC now owns 21,523 shares of the oil and gas company’s stock valued at $2,829,000 after buying an additional 2,274 shares during the last quarter. Synovus Financial Corp grew its holdings in Phillips 66 by 25.4% during the third quarter. Synovus Financial Corp now owns 26,554 shares of the oil and gas company’s stock worth $3,490,000 after buying an additional 5,376 shares in the last quarter. Principal Financial Group Inc. raised its position in Phillips 66 by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock valued at $69,775,000 after buying an additional 14,209 shares during the last quarter. Finally, Old Port Advisors lifted its stake in Phillips 66 by 14.8% during the 4th quarter. Old Port Advisors now owns 1,853 shares of the oil and gas company’s stock valued at $211,000 after acquiring an additional 239 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PSX has been the topic of a number of recent analyst reports. Scotiabank dropped their price target on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating on the stock in a research report on Friday, April 11th. StockNews.com raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Monday, April 28th. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Morgan Stanley dropped their price target on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Finally, Barclays reduced their price objective on Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $136.36.

Phillips 66 Price Performance

PSX opened at $107.08 on Friday. The firm has a 50-day moving average price of $113.45 and a 200-day moving average price of $120.22. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $150.12. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $43.63 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the firm posted $1.90 earnings per share. Equities analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 annualized dividend and a yield of 4.48%. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio (DPR) is currently 109.34%.

Phillips 66 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.