Huntington National Bank Trims Stake in Phillips 66 (NYSE:PSX)

Huntington National Bank cut its position in shares of Phillips 66 (NYSE:PSX) by 0.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 38,687 shares of the oil and gas company’s stock after selling 243 shares during the quarter. Huntington National Bank’s holdings in Phillips 66 were worth $4,408,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Bogart Wealth LLC boosted its position in shares of Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 120 shares during the period. J.Safra Asset Management Corp bought a new stake in shares of Phillips 66 during the 4th quarter worth approximately $25,000. Stephens Consulting LLC boosted its holdings 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 acquiring an additional 111 shares during the period. Graney & King LLC purchased a new position in Phillips 66 during the 4th quarter valued at $28,000. Finally, Human Investing LLC bought a new position in Phillips 66 in the 4th quarter valued at $30,000. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on PSX. Barclays lifted their target price on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. The Goldman Sachs Group downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price on the stock. in a research note on Thursday, March 27th. 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 report on Friday, January 3rd. Finally, Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average target price of $146.43.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $124.11 on Thursday. The company has a 50 day moving average price of $125.02 and a 200 day moving average price of $125.48. The firm has a market capitalization of $50.60 billion, a P/E ratio of 25.12, a PEG ratio of 4.84 and a beta of 1.31. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 52 week low of $108.91 and a 52 week high of $174.08.

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 (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 previous year, the firm posted $3.09 earnings per share. Sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.71%. Phillips 66’s payout ratio is presently 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.