Krane Funds Advisors LLC Sells 342 Shares of Phillips 66 (NYSE:PSX)

Krane Funds Advisors LLC cut its position in shares of Phillips 66 (NYSE:PSX) by 14.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,008 shares of the oil and gas company’s stock after selling 342 shares during the period. Krane Funds Advisors LLC’s holdings in Phillips 66 were worth $229,000 at the end of the most recent reporting period.

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

Phillips 66 Trading Down 8.0 %

PSX opened at $98.65 on Monday. The firm has a 50 day simple moving average of $124.24 and a 200 day simple moving average of $125.09. Phillips 66 has a fifty-two week low of $95.67 and a fifty-two week high of $171.41. The company has a market cap of $40.22 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates 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 last year, the company posted $3.09 earnings per share. On average, sell-side analysts anticipate 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 issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is currently 93.12%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PSX shares. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wells Fargo & Company lifted their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group cut Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a report on Thursday, March 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.