Chevy Chase Trust Holdings LLC Lowers Holdings in Phillips 66 (NYSE:PSX)

Chevy Chase Trust Holdings LLC trimmed its holdings in Phillips 66 (NYSE:PSX) by 3.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 220,056 shares of the oil and gas company’s stock after selling 7,384 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Phillips 66 worth $25,071,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its position in shares of Phillips 66 by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after buying an additional 16,941 shares during the period. Mizuho Securities USA LLC raised its stake in shares of Phillips 66 by 7,549.0% in the third 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 acquiring an additional 2,467,316 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Phillips 66 by 63.4% in the third quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after acquiring an additional 633,970 shares in the last quarter. ING Groep NV raised its stake in shares of Phillips 66 by 123.2% in the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after acquiring an additional 653,032 shares in the last quarter. Finally, National Pension Service raised its stake in shares of Phillips 66 by 6.8% in the third quarter. National Pension Service now owns 1,001,734 shares of the oil and gas company’s stock valued at $131,678,000 after acquiring an additional 63,349 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Up 2.1 %

PSX opened at $128.24 on Friday. The business’s 50-day simple moving average is $118.75 and its 200-day simple moving average is $127.54. 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 has a one year low of $108.90 and a one year high of $174.08. The stock has a market capitalization of $52.96 billion, a P/E ratio of 25.96, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) 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 period last year, the firm posted $3.09 EPS. Analysts anticipate that Phillips 66 will post 7.14 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is currently 93.12%.

Analyst Ratings Changes

Several analysts have recently issued reports on PSX shares. 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. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. Finally, Wells Fargo & Company increased their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

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.