Keybank National Association OH Lowers Position in Phillips 66 (NYSE:PSX)

Keybank National Association OH lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 6.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 144,643 shares of the oil and gas company’s stock after selling 10,501 shares during the quarter. Keybank National Association OH’s holdings in Phillips 66 were worth $16,479,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bogart Wealth LLC grew its stake in 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. Stephens Consulting LLC lifted its holdings in shares of Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 111 shares during the last quarter. Human Investing LLC purchased a new position in Phillips 66 in the fourth quarter worth $30,000. Webster Bank N. A. increased its stake in 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 acquiring an additional 88 shares during the last quarter. Finally, YANKCOM Partnership bought a new stake in Phillips 66 during the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

PSX opened at $122.48 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a market capitalization of $49.93 billion, a PE ratio of 24.79, a price-to-earnings-growth ratio of 4.84 and a beta of 1.37. The stock’s 50 day moving average price is $121.11 and its 200-day moving average price is $126.51. Phillips 66 has a 52-week low of $108.90 and a 52-week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data 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 company earned $3.09 EPS. On average, equities research analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.76%. The ex-dividend date is Monday, February 24th. Phillips 66’s payout ratio is currently 93.12%.

Analyst Ratings Changes

Several equities analysts have recently commented on PSX shares. Barclays reduced their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wolfe Research raised shares of 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. Wells Fargo & Company boosted their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Mizuho reduced their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $148.00.

About Phillips 66

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.