Phillips 66 (NYSE:PSX) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 48.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 322,365 shares of the oil and gas company’s stock after selling 302,925 shares during the quarter. Victory Capital Management Inc. owned about 0.08% of Phillips 66 worth $36,727,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Mizuho Securities USA LLC raised its holdings in 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. ING Groep NV raised its holdings in 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. Bank of New York Mellon Corp raised its holdings in Phillips 66 by 7.3% in the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock valued at $1,064,601,000 after acquiring an additional 639,323 shares in the last quarter. Bank of Montreal Can raised its holdings in 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. Finally, Mizuho Markets Americas LLC acquired a new stake in Phillips 66 in the third quarter valued at approximately $70,983,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX opened at $126.51 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a market cap of $51.58 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The company’s 50 day simple moving average is $121.76 and its 200-day simple moving average is $126.25. Phillips 66 has a 12-month low of $108.91 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its earnings results 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 return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the previous year, the business earned $3.09 EPS. As a group, equities analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.64%. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Wall Street Analyst Weigh In

PSX has been the topic of several analyst reports. Wells Fargo & Company raised their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. 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. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Barclays dropped their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Finally, StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. One 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 presently has a consensus rating of “Moderate Buy” and a consensus target price 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.