Phillips 66 (NYSE:PSX) Shares Sold by Snowden Capital Advisors LLC

Snowden Capital Advisors LLC reduced its stake in shares of Phillips 66 (NYSE:PSX) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,980 shares of the oil and gas company’s stock after selling 661 shares during the period. Snowden Capital Advisors LLC’s holdings in Phillips 66 were worth $2,048,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Oppenheimer & Co. Inc. lifted its position in Phillips 66 by 10.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after buying an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. acquired a new stake in shares of Phillips 66 in the 4th quarter worth $1,190,000. Donoghue Forlines LLC purchased a new position in shares of Phillips 66 during the 4th quarter worth $1,438,000. Smith Group Asset Management LLC acquired a new position in shares of Phillips 66 during the 4th quarter valued at about $1,149,000. Finally, Corps Capital Advisors LLC purchased a new stake in shares of Phillips 66 in the fourth quarter valued at about $412,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PSX shares. Scotiabank cut their price objective on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, April 11th. Mizuho raised their price target on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday, May 13th. Morgan Stanley decreased their price objective 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. Barclays increased their price objective on Phillips 66 from $106.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Monday, May 12th. Finally, JPMorgan Chase & Co. reduced their target price on Phillips 66 from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 29th. Six research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $137.86.

Phillips 66 Price Performance

PSX stock opened at $125.69 on Friday. The business’s fifty day moving average price is $111.61 and its 200 day moving average price is $119.23. 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 company has a market capitalization of $51.21 billion, a PE ratio of 25.44, a P/E/G ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last issued 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). The business had revenue of $31.92 billion for the quarter, compared to analysts’ expectations 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 last year, the company earned $1.90 earnings per share. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, May 19th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 3.82%. Phillips 66’s dividend payout ratio is 109.34%.

Phillips 66 Company 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.