HUB Investment Partners LLC Sells 7,283 Shares of Phillips 66 (NYSE:PSX)

HUB Investment Partners LLC decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 6.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 103,407 shares of the oil and gas company’s stock after selling 7,283 shares during the period. HUB Investment Partners LLC’s holdings in Phillips 66 were worth $11,781,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PSX. Raymond James Financial Inc. purchased a new stake in Phillips 66 in the 4th quarter worth approximately $168,790,000. Amundi grew its holdings in Phillips 66 by 25.7% in the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock valued at $428,081,000 after buying an additional 753,653 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Phillips 66 by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after purchasing an additional 639,323 shares during the period. Bank of Montreal Can grew its holdings in shares of Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after purchasing an additional 633,970 shares during the period. Finally, Weiss Asset Management LP purchased a new position in Phillips 66 during the 3rd quarter valued at about $34,042,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.5 %

Shares of PSX opened at $129.05 on Thursday. The business’s 50 day simple moving average is $123.63 and its 200-day simple moving average is $125.79. Phillips 66 has a one year low of $108.91 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The company has a market capitalization of $52.61 billion, a P/E ratio of 26.12, a PEG ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) 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, sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PSX shares. Barclays boosted their target price on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Wells Fargo & Company boosted their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Mizuho dropped their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $149.43.

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.