Guardian Wealth Management Inc. Sells 3,898 Shares of Phillips 66 (NYSE:PSX)

Guardian Wealth Management Inc. lessened its holdings in Phillips 66 (NYSE:PSX) by 38.2% in the fourth quarter, Holdings Channel reports. The firm owned 6,300 shares of the oil and gas company’s stock after selling 3,898 shares during the period. Guardian Wealth Management Inc.’s holdings in Phillips 66 were worth $718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the business. Morse Asset Management Inc bought a new position in shares of Phillips 66 during the 3rd quarter valued at approximately $493,000. Invst LLC grew its holdings in Phillips 66 by 2.4% during the third quarter. Invst LLC now owns 6,201 shares of the oil and gas company’s stock valued at $815,000 after purchasing an additional 145 shares during the period. Advisory Resource Group increased its position in Phillips 66 by 4.3% in the third quarter. Advisory Resource Group now owns 241,527 shares of the oil and gas company’s stock worth $31,749,000 after buying an additional 9,930 shares during the last quarter. World Investment Advisors LLC purchased a new stake in Phillips 66 in the 3rd quarter worth about $796,000. Finally, Arvest Bank Trust Division purchased a new position in shares of Phillips 66 in the third quarter valued at $1,008,000. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PSX has been the subject of several analyst reports. Scotiabank cut their target price on Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday, January 3rd. Barclays lowered their target price on shares of Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. Mizuho reduced their price target on shares of Phillips 66 from $140.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Finally, The Goldman Sachs Group downgraded Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price objective on the stock. in a research report on Thursday, March 27th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $142.00.

Phillips 66 Stock Up 1.9 %

Shares of PSX opened at $102.80 on Thursday. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $158.38. 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 stock has a 50 day simple moving average of $116.80 and a two-hundred day simple moving average of $121.67. The firm has a market cap of $41.88 billion, a P/E ratio of 20.81, a P/E/G ratio of 4.84 and a beta of 1.17.

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 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 firm posted $3.09 earnings per share. On average, analysts forecast that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 4.67%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

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.