Phillips 66 (NYSE:PSX) Shares Sold by Schechter Investment Advisors LLC

Schechter Investment Advisors LLC reduced its holdings in Phillips 66 (NYSE:PSX) by 20.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,585 shares of the oil and gas company’s stock after selling 896 shares during the period. Schechter Investment Advisors LLC’s holdings in Phillips 66 were worth $408,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp grew its position in shares of Phillips 66 by 263.3% in the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after purchasing an additional 60,355 shares in the last quarter. Radnor Capital Management LLC acquired a new position in Phillips 66 during the third quarter worth $282,000. Harvest Portfolios Group Inc. grew its holdings in Phillips 66 by 20.5% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 12,147 shares of the oil and gas company’s stock valued at $1,597,000 after buying an additional 2,063 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of Phillips 66 by 4.4% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 20,574 shares of the oil and gas company’s stock worth $2,704,000 after acquiring an additional 865 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Phillips 66 by 2.8% in the 3rd quarter. Principal Financial Group Inc. now owns 530,807 shares of the oil and gas company’s stock worth $69,775,000 after acquiring an additional 14,209 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PSX shares. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Mizuho cut their price target 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. Wells Fargo & Company upped their price objective on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Barclays cut their target price on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $148.00.

Phillips 66 Trading Down 2.0 %

Shares of NYSE PSX opened at $119.88 on Thursday. 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 stock has a market capitalization of $48.88 billion, a PE ratio of 24.27, a PEG ratio of 4.84 and a beta of 1.37. Phillips 66 has a twelve month low of $108.91 and a twelve month high of $174.08. The stock has a fifty day simple moving average of $121.27 and a 200-day simple moving average of $126.47.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share 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 period last year, the company earned $3.09 earnings per share. On average, equities analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were given a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.84%. Phillips 66’s dividend payout ratio is presently 93.12%.

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.