Delta Financial Advisors LLC Reduces Stock Position in Phillips 66 (NYSE:PSX)

Delta Financial Advisors LLC lessened its stake in shares of Phillips 66 (NYSE:PSX) by 2.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund 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 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PSX. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Phillips 66 by 8.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 123,288 shares of the oil and gas company’s stock valued at $16,206,000 after acquiring an additional 9,414 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Phillips 66 by 1.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 199,461 shares of the oil and gas company’s stock valued at $26,076,000 after acquiring an additional 3,094 shares during the last quarter. Pallas Capital Advisors LLC boosted its holdings in shares of Phillips 66 by 14.5% during the 3rd quarter. Pallas Capital Advisors LLC now owns 2,284 shares of the oil and gas company’s stock valued at $294,000 after acquiring an additional 289 shares during the last quarter. Diversify Advisory Services LLC boosted its holdings in shares of Phillips 66 by 35.2% during the 3rd quarter. Diversify Advisory Services LLC now owns 2,878 shares of the oil and gas company’s stock valued at $378,000 after acquiring an additional 750 shares during the last quarter. Finally, MONECO Advisors LLC boosted its holdings in shares of Phillips 66 by 11.8% during the 3rd quarter. MONECO Advisors LLC now owns 7,280 shares of the oil and gas company’s stock valued at $957,000 after acquiring an additional 768 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on PSX shares. Mizuho dropped their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. StockNews.com raised shares of Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday. Barclays dropped their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, Wells Fargo & Company raised their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Price Performance

NYSE PSX opened at $126.21 on Wednesday. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The stock has a market cap of $52.12 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 4.84 and a beta of 1.37. The company’s 50 day moving average is $119.60 and its two-hundred day moving average is $126.91. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) 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 quarter in the prior year, the firm posted $3.09 EPS. As a group, research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Monday, February 24th. Phillips 66’s payout ratio is currently 93.12%.

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.