Cypress Capital Group Sells 765 Shares of Phillips 66 (NYSE:PSX)

Cypress Capital Group lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,535 shares of the oil and gas company’s stock after selling 765 shares during the period. Phillips 66 makes up 0.9% of Cypress Capital Group’s investment portfolio, making the stock its 29th largest holding. Cypress Capital Group’s holdings in Phillips 66 were worth $7,352,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Bogart Wealth LLC boosted its stake in Phillips 66 by 120.0% during the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 120 shares in the last quarter. Stephens Consulting LLC boosted its stake in Phillips 66 by 83.5% during the fourth 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 in the last quarter. Human Investing LLC bought a new stake in Phillips 66 during the fourth quarter worth about $30,000. Webster Bank N. A. boosted its stake in Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 88 shares in the last quarter. Finally, YANKCOM Partnership bought a new stake in Phillips 66 during the fourth quarter worth about $31,000. Institutional investors own 76.93% of the company’s stock.

Analysts Set New Price Targets

PSX has been the subject of several recent analyst reports. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. Wells Fargo & Company lifted their target price 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. Mizuho decreased their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Barclays decreased their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Stock Down 2.0 %

Shares of PSX stock opened at $122.48 on Wednesday. The stock has a market cap of $49.93 billion, a P/E ratio of 24.79, a P/E/G ratio of 4.84 and a beta of 1.37. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The company has a 50 day simple moving average of $121.11 and a two-hundred day simple moving average of $126.51. 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 posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 prior year, the business earned $3.09 earnings per share. On average, research analysts expect that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a $1.15 dividend. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.76%. 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.