Bison Wealth LLC Decreases Stock Position in Phillips 66 (NYSE:PSX)

Bison Wealth LLC lowered its holdings in Phillips 66 (NYSE:PSX - Free Report) by 66.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,531 shares of the oil and gas company's stock after selling 5,013 shares during the quarter. Bison Wealth LLC's holdings in Phillips 66 were worth $288,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Oppenheimer & Co. Inc. grew its holdings in shares of Phillips 66 by 10.6% during the fourth 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 Phillips 66 during the 4th quarter worth approximately $1,190,000. Everence Capital Management Inc. acquired a new position in Phillips 66 during the fourth quarter worth approximately $3,033,000. Donoghue Forlines LLC purchased a new stake in Phillips 66 in the fourth quarter valued at approximately $1,438,000. Finally, Smith Group Asset Management LLC purchased a new stake in Phillips 66 in the fourth quarter valued at approximately $1,149,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company cut their target price on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Piper Sandler lowered shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. The Goldman Sachs Group downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price for the company. in a research note on Thursday, March 27th. Raymond James lowered their price target on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. Finally, Mizuho reduced their price objective on Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a research note on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has a consensus rating of "Moderate Buy" and a consensus target price of $136.36.

Phillips 66 Price Performance

NYSE:PSX traded up $3.62 during trading hours on Friday, hitting $107.08. The company's stock had a trading volume of 2,587,177 shares, compared to its average volume of 2,896,890. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $150.12. 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 business's 50-day moving average is $113.45 and its two-hundred day moving average is $120.14. The company has a market capitalization of $43.63 billion, a PE ratio of 21.68, a PEG ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The company had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the business earned $1.90 EPS. As a group, research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.48%. This is an increase from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date is Monday, May 19th. Phillips 66's dividend payout ratio (DPR) is presently 109.34%.

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.