Delta Financial Advisors LLC Sells 248 Shares of Phillips 66 (NYSE:PSX)

Delta Financial Advisors LLC cut its holdings in Phillips 66 (NYSE:PSX) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 8,974 shares of the oil and gas company’s stock after selling 248 shares during the quarter. Delta Financial Advisors LLC’s holdings in Phillips 66 were worth $1,022,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bogart Wealth LLC grew its holdings 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 purchasing an additional 120 shares in the last quarter. Stephens Consulting LLC grew its holdings in shares of Phillips 66 by 83.5% in the fourth 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 in the last quarter. Human Investing LLC purchased a new position in shares of Phillips 66 in the fourth quarter valued at $30,000. Webster Bank N. A. grew its holdings in shares of Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 88 shares in the last quarter. Finally, YANKCOM Partnership purchased a new position in shares of Phillips 66 in the fourth quarter valued at $31,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Down 0.7 %

Shares of PSX opened at $126.21 on Wednesday. The firm has a market capitalization of $52.12 billion, a P/E ratio of 25.55, a P/E/G ratio of 4.84 and a beta of 1.37. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average price of $119.60 and a 200-day moving average price of $126.91.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) 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 quarter in the previous year, the business earned $3.09 EPS. Equities research analysts expect 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 will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a $1.15 dividend. The ex-dividend date is Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.64%. Phillips 66’s payout ratio is currently 93.12%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PSX. StockNews.com raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday. Mizuho dropped their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. 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 note on Friday, January 3rd. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, Barclays dropped their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

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.