Amalgamated Bank Decreases Holdings in Phillips 66 (NYSE:PSX)

Amalgamated Bank lowered its stake in shares of Phillips 66 (NYSE:PSX) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,201 shares of the oil and gas company’s stock after selling 3,222 shares during the period. Amalgamated Bank’s holdings in Phillips 66 were worth $9,023,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in Phillips 66 by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after buying an additional 639,323 shares during the last quarter. Rowlandmiller & PARTNERS.ADV lifted its position in shares of Phillips 66 by 14.9% in the fourth quarter. Rowlandmiller & PARTNERS.ADV now owns 12,021 shares of the oil and gas company’s stock valued at $1,370,000 after acquiring an additional 1,560 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in shares of Phillips 66 by 8.7% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 20,554 shares of the oil and gas company’s stock valued at $2,342,000 after acquiring an additional 1,645 shares in the last quarter. South Dakota Investment Council acquired a new stake in shares of Phillips 66 in the fourth quarter worth approximately $219,000. Finally, Delta Financial Group Inc. purchased a new stake in shares of Phillips 66 during the fourth quarter worth approximately $225,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Trading Down 0.7 %

Shares of Phillips 66 stock opened at $126.21 on Wednesday. Phillips 66 has a fifty-two week low of $108.90 and a fifty-two week high of $174.08. 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 firm has a market capitalization of $52.12 billion, a price-to-earnings ratio of 25.55, a PEG ratio of 4.84 and a beta of 1.37. The stock has a 50 day moving average of $119.60 and a 200 day moving average of $126.91.

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

Phillips 66 Dividend Announcement

The business also recently declared 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. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Monday, February 24th. Phillips 66’s dividend payout ratio is presently 93.12%.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of research reports. Barclays decreased their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Mizuho dropped their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research note on Monday, December 16th. UBS Group cut their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Finally, StockNews.com upgraded Phillips 66 from a “sell” rating to a “hold” rating in a report on Saturday. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

About Phillips 66

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.