Nations Financial Group Inc. IA ADV Sells 3,585 Shares of Phillips 66 (NYSE:PSX)

Nations Financial Group Inc. IA ADV lessened its holdings in Phillips 66 (NYSE:PSX) by 8.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,727 shares of the oil and gas company’s stock after selling 3,585 shares during the quarter. Nations Financial Group Inc. IA ADV’s holdings in Phillips 66 were worth $4,640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of PSX. Mizuho Securities USA LLC grew its stake in Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after purchasing an additional 2,467,316 shares during the period. ING Groep NV grew its stake in Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after purchasing an additional 653,032 shares during the period. Bank of Montreal Can grew its stake in shares of Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after acquiring an additional 633,970 shares during the period. Mizuho Markets Americas LLC bought a new position in shares of Phillips 66 during the 3rd quarter worth $70,983,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of Phillips 66 by 73.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 732,556 shares of the oil and gas company’s stock worth $96,294,000 after acquiring an additional 309,507 shares during the period. Institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PSX. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Barclays cut their price target on 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. Mizuho cut their price target 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. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research note on Friday, January 3rd. Finally, StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Stock Performance

NYSE:PSX opened at $128.24 on Friday. The business’s 50-day moving average price is $118.75 and its two-hundred day moving average price is $127.54. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The stock has a market cap of $52.96 billion, a P/E ratio of 25.96, a PEG ratio of 5.64 and a beta of 1.37. 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 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 previous year, the firm posted $3.09 earnings per share. As a group, equities analysts predict that Phillips 66 will post 7.14 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.59%. Phillips 66’s payout ratio is currently 93.12%.

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.