CoreCap Advisors LLC Decreases Stock Holdings in Phillips 66 (NYSE:PSX)

CoreCap Advisors LLC trimmed its position in shares of Phillips 66 (NYSE:PSX) by 27.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 793 shares of the oil and gas company’s stock after selling 300 shares during the period. CoreCap Advisors LLC’s holdings in Phillips 66 were worth $90,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Oppenheimer & Co. Inc. raised its holdings in shares of Phillips 66 by 10.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after acquiring an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. bought a new position in shares of Phillips 66 during the 4th quarter valued at approximately $1,190,000. Donoghue Forlines LLC bought a new position in shares of Phillips 66 during the 4th quarter valued at approximately $1,438,000. Smith Group Asset Management LLC bought a new position in shares of Phillips 66 during the 4th quarter valued at approximately $1,149,000. Finally, Corps Capital Advisors LLC bought a new position in shares of Phillips 66 during the 4th quarter valued at approximately $412,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

PSX opened at $125.62 on Wednesday. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The business’s fifty day simple moving average is $111.64 and its 200-day simple moving average is $119.22. The company has a market capitalization of $51.18 billion, a price-to-earnings ratio of 25.43, a PEG ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The firm had revenue of $31.92 billion for the quarter, compared to the consensus estimate of $31.93 billion. During the same period in the previous year, the company posted $1.90 EPS. On average, equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $1.20 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.82%. Phillips 66’s dividend payout ratio is presently 109.34%.

Analyst Ratings Changes

Several research firms have recently weighed in on PSX. TD Cowen boosted their target price on Phillips 66 from $114.00 to $120.00 and gave the company a “buy” rating in a research report on Tuesday. UBS Group cut their target price on Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. StockNews.com raised Phillips 66 from a “sell” rating to a “hold” rating in a research report on Monday, April 28th. Barclays boosted their target price on Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a research report on Monday. Finally, Raymond James cut their target price on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $137.86.

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.