Cannell & Spears LLC Sells 112 Shares of Phillips 66 (NYSE:PSX)

Cannell & Spears LLC lowered its position in Phillips 66 (NYSE:PSX) by 0.9% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 11,691 shares of the oil and gas company’s stock after selling 112 shares during the quarter. Cannell & Spears LLC’s holdings in Phillips 66 were worth $1,332,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of PSX. Bogart Wealth LLC lifted its position in shares of Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 120 shares in the last quarter. J.Safra Asset Management Corp purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $25,000. Stephens Consulting LLC raised its stake in Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares during the period. Graney & King LLC purchased a new position in Phillips 66 in the 4th quarter worth approximately $28,000. Finally, Human Investing LLC bought a new position in Phillips 66 in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $123.72 on Tuesday. 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 stock’s fifty day moving average is $124.82 and its two-hundred day moving average is $125.50. Phillips 66 has a 52 week low of $108.91 and a 52 week high of $174.08. The company has a market capitalization of $50.44 billion, a PE ratio of 25.04, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31.

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

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 3.72%. Phillips 66’s dividend payout ratio is currently 93.12%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PSX. Barclays lifted their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wolfe Research raised 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 report on Friday, January 3rd. The Goldman Sachs Group lowered shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price for the company. in a report on Thursday, March 27th. Finally, Mizuho reduced their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $146.43.

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.