Atria Investments Inc Trims Stake in Phillips 66 (NYSE:PSX)

Atria Investments Inc decreased its position in shares of Phillips 66 (NYSE:PSX) by 24.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 19,253 shares of the oil and gas company’s stock after selling 6,232 shares during the period. Atria Investments Inc’s holdings in Phillips 66 were worth $2,194,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PSX. NewEdge Wealth LLC increased its stake in Phillips 66 by 0.5% in the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock worth $1,732,000 after purchasing an additional 81 shares during the period. JBR Co Financial Management Inc increased its stake in Phillips 66 by 0.9% in the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock worth $1,085,000 after purchasing an additional 85 shares during the period. Nwam LLC increased its stake in Phillips 66 by 2.2% in the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock worth $442,000 after purchasing an additional 85 shares during the period. Webster Bank N. A. grew its position in shares of Phillips 66 by 48.4% during the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock worth $31,000 after buying an additional 88 shares in the last quarter. Finally, Cobblestone Capital Advisors LLC NY grew its position in shares of Phillips 66 by 0.5% during the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock worth $2,307,000 after buying an additional 89 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Mizuho dropped their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Barclays dropped their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Monday, January 13th. Finally, StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research report on Sunday, March 2nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Trading Up 3.0 %

Phillips 66 stock opened at $126.51 on Monday. The stock has a 50-day moving average of $121.76 and a two-hundred day moving average of $126.25. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a one year low of $108.91 and a one year high of $174.08. The stock has a market cap of $51.58 billion, a PE ratio of 25.61, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results 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 period in the previous year, the firm earned $3.09 earnings per share. On average, research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

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