Franklin Resources Inc. Sells 2,562 Shares of Phillips 66 (NYSE:PSX)

Franklin Resources Inc. cut its holdings in Phillips 66 (NYSE:PSX) by 0.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 286,697 shares of the oil and gas company’s stock after selling 2,562 shares during the period. Franklin Resources Inc. owned 0.07% of Phillips 66 worth $32,663,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. NewEdge Wealth LLC boosted its holdings in shares of 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 acquiring an additional 81 shares during the period. JBR Co Financial Management Inc boosted its stake in Phillips 66 by 0.9% in the 4th 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 grew its holdings in Phillips 66 by 2.2% during the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock valued at $442,000 after buying an additional 85 shares in the last quarter. Webster Bank N. A. increased its position in shares of Phillips 66 by 48.4% during the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 88 shares during the period. Finally, PFG Private Wealth Management LLC lifted its holdings in shares of Phillips 66 by 7.7% in the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock worth $140,000 after buying an additional 88 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 8.0 %

PSX stock opened at $98.65 on Friday. The company has a market capitalization of $40.22 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. 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 $95.67 and a one year high of $171.41. The company’s 50 day moving average price is $124.24 and its two-hundred day moving average price is $125.13.

Phillips 66 (NYSE:PSX) last issued its 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 return on equity of 8.58% and a net margin of 1.46%. During the same quarter in the previous year, the firm posted $3.09 earnings per share. As a group, analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PSX shares. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Mizuho lowered their price objective 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 cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Finally, Wells Fargo & Company raised their price target on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $146.43.

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.