Good Life Advisors LLC Sells 321 Shares of Phillips 66 (NYSE:PSX)

Good Life Advisors LLC decreased its holdings in shares of Phillips 66 (NYSE:PSX) by 8.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,318 shares of the oil and gas company’s stock after selling 321 shares during the quarter. Good Life Advisors LLC’s holdings in Phillips 66 were worth $378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. nVerses Capital LLC bought a new position in Phillips 66 in the 3rd quarter worth about $26,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Phillips 66 by 22.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 118,782 shares of the oil and gas company’s stock worth $15,614,000 after purchasing an additional 21,840 shares during the period. Sequoia Financial Advisors LLC raised its position in shares of Phillips 66 by 40.2% in the third quarter. Sequoia Financial Advisors LLC now owns 28,296 shares of the oil and gas company’s stock worth $3,720,000 after buying an additional 8,110 shares in the last quarter. Eastern Bank purchased a new position in Phillips 66 during the third quarter worth about $348,000. Finally, Greenleaf Trust increased its stake in Phillips 66 by 4.4% in the 3rd quarter. Greenleaf Trust now owns 11,353 shares of the oil and gas company’s stock worth $1,492,000 after acquiring an additional 481 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $131.67 on Friday. The business has a 50 day moving average of $119.05 and a 200 day moving average of $127.13. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08. The company has a market cap of $54.38 billion, a PE ratio of 26.65, a P/E/G ratio of 4.79 and a beta of 1.37. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate 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 prior year, the business earned $3.09 earnings per share. As a group, equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.49%. Phillips 66’s payout ratio is 93.12%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PSX shares. Wells Fargo & Company boosted their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, February 14th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. Finally, Mizuho decreased their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $148.00.

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.