Snowden Capital Advisors LLC Reduces Position in Phillips 66 (NYSE:PSX)

Snowden Capital Advisors LLC decreased its position in Phillips 66 (NYSE:PSX) by 3.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,980 shares of the oil and gas company’s stock after selling 661 shares during the period. Snowden Capital Advisors LLC’s holdings in Phillips 66 were worth $2,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised its stake in shares of Phillips 66 by 10.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after purchasing an additional 4,515 shares during the last quarter. Flavin Financial Services Inc. acquired a new position in Phillips 66 in the 4th quarter worth approximately $1,190,000. Donoghue Forlines LLC purchased a new position in Phillips 66 during the 4th quarter worth approximately $1,438,000. Smith Group Asset Management LLC acquired a new stake in Phillips 66 during the 4th quarter valued at approximately $1,149,000. Finally, Corps Capital Advisors LLC purchased a new stake in shares of Phillips 66 in the 4th quarter valued at $412,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $125.69 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock has a market capitalization of $51.21 billion, a PE ratio of 25.44, a P/E/G ratio of 4.84 and a beta of 1.01. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The company has a fifty day moving average of $111.61 and a two-hundred day moving average of $119.23.

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

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $1.20 dividend. The ex-dividend date is Monday, May 19th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.82%. Phillips 66’s payout ratio is currently 109.34%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on PSX shares. The Goldman Sachs Group downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price for the company. in a research report on Thursday, March 27th. Mizuho boosted their price objective on Phillips 66 from $132.00 to $138.00 and gave the company a “neutral” rating in a report on Tuesday, May 13th. Morgan Stanley dropped their target price on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating on the stock in a report on Thursday, April 24th. Barclays lifted their price target on Phillips 66 from $106.00 to $115.00 and gave the company an “equal weight” rating in a research report on Monday, May 12th. Finally, UBS Group lowered their price objective on Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.86.

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.