Penobscot Investment Management Company Inc. Cuts Stock Holdings in Phillips 66 (NYSE:PSX)

Penobscot Investment Management Company Inc. reduced its stake in Phillips 66 (NYSE:PSX) by 3.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,804 shares of the oil and gas company’s stock after selling 275 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Phillips 66 were worth $775,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Bogart Wealth LLC raised its holdings in shares of Phillips 66 by 120.0% in the fourth 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 during the last quarter. J.Safra Asset Management Corp purchased a new stake in Phillips 66 in the 4th quarter valued at about $25,000. Stephens Consulting LLC lifted its position in shares of Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock worth $28,000 after buying an additional 111 shares in the last quarter. Human Investing LLC purchased a new position in shares of Phillips 66 in the 4th quarter worth approximately $30,000. Finally, Webster Bank N. A. grew its holdings in shares of Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 88 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Barclays lifted their price target on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wells Fargo & Company raised their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. Finally, StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.54.

Phillips 66 Stock Performance

Shares of PSX opened at $126.54 on Thursday. 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 $51.59 billion, a price-to-earnings ratio of 25.61, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. Phillips 66 has a 52-week low of $108.91 and a 52-week high of $174.08. The stock’s 50-day simple moving average is $124.64 and its 200 day simple moving average is $125.57.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data 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 net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the business earned $3.09 earnings per share. Research analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were issued a $1.15 dividend. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.64%. Phillips 66’s payout ratio is currently 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.