CoreCap Advisors LLC Lowers Stock Position in Phillips 66 (NYSE:PSX)

CoreCap Advisors LLC lowered its position in shares of Phillips 66 (NYSE:PSX) by 27.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 793 shares of the oil and gas company’s stock after selling 300 shares during the quarter. CoreCap Advisors LLC’s holdings in Phillips 66 were worth $90,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Oppenheimer & Co. Inc. raised its position in shares of Phillips 66 by 10.6% in the 4th 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. purchased a new position in shares of Phillips 66 in the 4th quarter worth about $1,190,000. Donoghue Forlines LLC purchased a new position in shares of Phillips 66 in the 4th quarter worth about $1,438,000. Smith Group Asset Management LLC purchased a new position in shares of Phillips 66 in the 4th quarter worth about $1,149,000. Finally, Corps Capital Advisors LLC purchased a new position in shares of Phillips 66 in the 4th quarter worth about $412,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on PSX shares. Wells Fargo & Company reduced their price objective on Phillips 66 from $162.00 to $149.00 and set an “overweight” rating for the company in a report on Monday, April 28th. StockNews.com upgraded Phillips 66 from a “sell” rating to a “hold” rating in a report on Monday, April 28th. Mizuho lifted their price objective on Phillips 66 from $132.00 to $138.00 and gave the stock a “neutral” rating in a report on Tuesday. Morgan Stanley reduced their price objective on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a report on Thursday, April 24th. Finally, Barclays lifted their price objective on Phillips 66 from $106.00 to $115.00 and gave the stock an “equal weight” rating in a report on Monday. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $137.86.

Phillips 66 Stock Up 5.8%

NYSE PSX opened at $125.62 on Wednesday. The stock’s 50 day moving average is $111.64 and its 200 day moving average is $119.22. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The stock has a market cap of $51.18 billion, a PE ratio of 25.43, a P/E/G ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The business 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 firm posted $1.90 earnings per share. Research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Monday, May 19th. 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 3.82%. Phillips 66’s payout ratio is currently 109.34%.

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.