Phillips 66 (NYSE:PSX) Shares Sold by Wells Fargo & Company MN

Wells Fargo & Company MN lowered its stake in shares of Phillips 66 (NYSE:PSX) by 0.8% during the fourth quarter, Holdings Channel reports. The fund owned 16,030,294 shares of the oil and gas company’s stock after selling 123,186 shares during the quarter. Wells Fargo & Company MN’s holdings in Phillips 66 were worth $1,826,331,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. boosted its holdings in Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock valued at $5,349,000 after acquiring an additional 4,515 shares during the last quarter. Flavin Financial Services Inc. purchased a new stake in shares of Phillips 66 during the 4th quarter worth about $1,190,000. Everence Capital Management Inc. purchased a new stake in shares of Phillips 66 during the 4th quarter worth about $3,033,000. Donoghue Forlines LLC acquired a new stake in Phillips 66 during the 4th quarter worth approximately $1,438,000. Finally, Smith Group Asset Management LLC purchased a new position in Phillips 66 in the fourth quarter valued at approximately $1,149,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 13.6 %

NYSE PSX opened at $107.15 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a one year low of $103.08 and a one year high of $174.08. The company has a 50-day simple moving average of $124.71 and a 200-day simple moving average of $125.35. The firm has a market capitalization of $43.69 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) 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 period in the prior year, the business earned $3.09 EPS. On average, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $1.15 per share. The ex-dividend date was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 4.29%. Phillips 66’s payout ratio is currently 93.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. 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 research report on Friday, January 3rd. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Barclays raised their price target on shares of Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Mizuho lowered their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $146.43.

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.