West Paces Advisors Inc. Sells 438 Shares of Phillips 66 (NYSE:PSX)

West Paces Advisors Inc. decreased its position in shares of Phillips 66 (NYSE:PSX) by 9.4% in the 4th quarter, HoldingsChannel reports. The fund owned 4,241 shares of the oil and gas company’s stock after selling 438 shares during the period. West Paces Advisors Inc.’s holdings in Phillips 66 were worth $483,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bogart Wealth LLC increased its stake in Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 120 shares in the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Phillips 66 during the fourth quarter valued at about $25,000. Stephens Consulting LLC increased its position in shares of Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after acquiring an additional 111 shares in the last quarter. Graney & King LLC acquired a new stake in shares of Phillips 66 in the 4th quarter worth about $28,000. Finally, Human Investing LLC bought a new position in Phillips 66 in the 4th quarter valued at about $30,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.5 %

Shares of PSX stock opened at $103.51 on Friday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The firm has a market cap of $42.17 billion, a P/E ratio of 20.95, a PEG ratio of 4.84 and a beta of 1.17. The company has a 50 day moving average of $113.83 and a 200-day moving average of $120.39. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The firm had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the business earned $1.90 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be paid a $1.20 dividend. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 4.64%. The ex-dividend date is Monday, May 19th. Phillips 66’s payout ratio is currently 109.34%.

Analysts Set New Price Targets

PSX has been the subject of several analyst reports. Raymond James lowered their price objective on Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. Morgan Stanley lowered their price target on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Barclays cut their price objective on shares of Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Wells Fargo & Company lowered their target price on shares of Phillips 66 from $162.00 to $149.00 and set an “overweight” rating for the company in a report on Monday. Finally, Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and an average target price of $136.36.

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.