Korea Investment CORP Trims Holdings in Phillips 66 (NYSE:PSX)

Korea Investment CORP lowered its position in Phillips 66 (NYSE:PSX) by 28.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 274,524 shares of the oil and gas company’s stock after selling 108,403 shares during the period. Korea Investment CORP’s holdings in Phillips 66 were worth $31,277,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Graney & King LLC acquired a new stake in shares of Phillips 66 in the fourth quarter worth $28,000. Ausdal Financial Partners Inc. boosted its stake in shares of Phillips 66 by 20.8% in the fourth quarter. Ausdal Financial Partners Inc. now owns 5,698 shares of the oil and gas company’s stock worth $649,000 after buying an additional 980 shares during the last quarter. Murphy & Mullick Capital Management Corp purchased a new stake in Phillips 66 in the 4th quarter worth approximately $69,000. Signature Estate & Investment Advisors LLC grew its position in Phillips 66 by 6.1% during the fourth quarter. Signature Estate & Investment Advisors LLC now owns 2,008 shares of the oil and gas company’s stock valued at $229,000 after buying an additional 116 shares during the period. Finally, Zions Bancorporation N.A. grew its position in Phillips 66 by 47.5% during the fourth quarter. Zions Bancorporation N.A. now owns 3,528 shares of the oil and gas company’s stock valued at $402,000 after buying an additional 1,136 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a research note on Thursday. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research report on Friday, January 3rd. Finally, Wells Fargo & Company lifted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $146.43.

Phillips 66 Trading Down 2.4 %

Shares of PSX stock opened at $121.67 on Friday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a twelve month low of $108.91 and a twelve month high of $174.08. The company’s 50-day moving average price is $124.76 and its 200-day moving average price is $125.52. The stock has a market cap of $49.60 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the previous year, the business earned $3.09 earnings per share. As a group, equities analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.78%. Phillips 66’s dividend payout ratio is presently 93.12%.

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.