Todd Asset Management LLC Sells 175,440 Shares of Phillips 66 (NYSE:PSX)

Todd Asset Management LLC decreased its position in Phillips 66 (NYSE:PSX) by 48.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 187,841 shares of the oil and gas company’s stock after selling 175,440 shares during the quarter. Todd Asset Management LLC’s holdings in Phillips 66 were worth $21,401,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. Bank of New York Mellon Corp grew its stake in shares of Phillips 66 by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after purchasing an additional 639,323 shares during the period. Rowlandmiller & PARTNERS.ADV increased its stake in shares of Phillips 66 by 14.9% in the 4th quarter. Rowlandmiller & PARTNERS.ADV now owns 12,021 shares of the oil and gas company’s stock valued at $1,370,000 after acquiring an additional 1,560 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in Phillips 66 by 8.7% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 20,554 shares of the oil and gas company’s stock worth $2,342,000 after acquiring an additional 1,645 shares during the last quarter. South Dakota Investment Council acquired a new position in Phillips 66 during the fourth quarter valued at approximately $219,000. Finally, Delta Financial Group Inc. bought a new stake in Phillips 66 in the fourth quarter valued at approximately $225,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on PSX shares. StockNews.com raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday. Wells Fargo & Company boosted their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. UBS Group dropped their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Wolfe Research upgraded 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, Mizuho dropped 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. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $148.00.

Phillips 66 Stock Down 1.2 %

PSX stock opened at $127.30 on Tuesday. The stock has a fifty day moving average of $119.39 and a 200-day moving average of $126.97. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. The company has a market capitalization of $52.57 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 4.84 and a beta of 1.37. 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 (NYSE:PSX) last posted its earnings results 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 return on equity of 8.58% and a net margin of 1.46%. During the same period in the previous year, the company posted $3.09 EPS. As a group, equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.61%. The ex-dividend date is Monday, February 24th. Phillips 66’s payout ratio is 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.