Kovitz Investment Group Partners LLC Sells 7,287 Shares of Phillips 66 (NYSE:PSX)

Kovitz Investment Group Partners LLC lessened its position in Phillips 66 (NYSE:PSX - Free Report) by 19.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 29,913 shares of the oil and gas company's stock after selling 7,287 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Phillips 66 were worth $3,408,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PSX. Bogart Wealth LLC increased its holdings in shares of Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 120 shares during the last quarter. J.Safra Asset Management Corp acquired a new stake in shares of Phillips 66 during the 4th quarter worth about $25,000. Stephens Consulting LLC increased its holdings in shares of Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock worth $28,000 after buying an additional 111 shares during the last quarter. Graney & King LLC acquired a new stake in shares of Phillips 66 during the fourth quarter valued at about $28,000. Finally, Human Investing LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Trading Up 3.5 %

PSX traded up $3.62 during trading on Friday, reaching $107.08. 2,587,030 shares of the company's stock were exchanged, compared to its average volume of 2,890,200. The company's fifty day moving average price is $113.83 and its 200-day moving average price is $120.39. The firm has a market capitalization of $43.63 billion, a PE ratio of 21.68, a P/E/G ratio of 4.84 and a beta of 1.17. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two 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.

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

Phillips 66 Increases Dividend

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

Analysts Set New Price Targets

PSX has been the subject of a number of research reports. Morgan Stanley decreased their target price on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. UBS Group decreased their price target on Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a research note on Monday. TD Cowen dropped their target price on Phillips 66 from $127.00 to $114.00 and set a "buy" rating on the stock in a report on Monday. Barclays decreased their price target on Phillips 66 from $135.00 to $106.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Finally, Piper Sandler lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Friday, January 10th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $136.36.

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.