Sowell Financial Services LLC Sells 51,821 Shares of Phillips 66 (NYSE:PSX)

Sowell Financial Services LLC cut its holdings in shares of Phillips 66 (NYSE:PSX) by 81.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,773 shares of the oil and gas company’s stock after selling 51,821 shares during the quarter. Sowell Financial Services LLC’s holdings in Phillips 66 were worth $1,341,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PSX. Mizuho Securities USA LLC increased its holdings in shares of Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after purchasing an additional 2,467,316 shares during the period. Raymond James Financial Inc. bought a new position in shares of Phillips 66 during the fourth quarter worth approximately $168,790,000. Amundi increased its stake in Phillips 66 by 25.7% in the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock valued at $428,081,000 after acquiring an additional 753,653 shares during the last quarter. ING Groep NV increased its stake 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 during the last quarter. Finally, Bank of New York Mellon Corp increased its stake 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 during the last quarter. 76.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays decreased 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 research note on Monday, January 13th. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Mizuho decreased their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, Wolfe Research raised shares of 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. One 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. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $126.41 on Tuesday. The firm has a market cap of $51.54 billion, a PE ratio of 25.59, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The firm’s fifty day moving average is $122.05 and its 200-day moving average is $126.21. 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 52 week low of $108.91 and a 52 week high of $174.08.

Phillips 66 (NYSE:PSX) last issued its quarterly 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 quarter last year, the business posted $3.09 EPS. Sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a dividend of $1.15 per share. The ex-dividend date 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%.

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.