Ancora Advisors LLC Lowers Stock Holdings in Phillips 66 (NYSE:PSX)

Ancora Advisors LLC reduced its position in shares of Phillips 66 (NYSE:PSX) by 3.0% in the 4th quarter, HoldingsChannel reports. The firm owned 36,388 shares of the oil and gas company’s stock after selling 1,137 shares during the period. Ancora Advisors LLC’s holdings in Phillips 66 were worth $4,146,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of PSX. NewEdge Wealth LLC increased its stake in Phillips 66 by 0.5% in the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock valued at $1,732,000 after purchasing an additional 81 shares in the last quarter. JBR Co Financial Management Inc grew its holdings in shares of Phillips 66 by 0.9% during the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock worth $1,085,000 after buying an additional 85 shares in the last quarter. Nwam LLC raised its holdings in Phillips 66 by 2.2% in the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock valued at $442,000 after acquiring an additional 85 shares during the last quarter. Webster Bank N. A. lifted its position in Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after buying an additional 88 shares during the period. Finally, PFG Private Wealth Management LLC boosted its position in shares of Phillips 66 by 7.7% in the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock worth $140,000 after acquiring an additional 88 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $107.08 on Friday. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $150.12. 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 fifty day moving average price of $113.45 and a two-hundred day moving average price of $120.14. The firm has a market cap of $43.63 billion, a P/E ratio of 21.68, a PEG ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS 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 the consensus estimate of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the previous year, the firm earned $1.90 earnings per share. Research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

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

Analysts Set New Price Targets

A number of research firms have issued reports on PSX. TD Cowen lowered their price target on Phillips 66 from $127.00 to $114.00 and set a “buy” rating for the company in a research report on Monday, April 28th. Raymond James dropped their price target on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 9th. Barclays reduced their target price 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. UBS Group cut their price objective on Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Finally, Wells Fargo & Company decreased their price target on shares of Phillips 66 from $162.00 to $149.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $136.36.

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.