Phillips 66 (NYSE:PSX) Shares Sold by Johnson Financial Group Inc.

Johnson Financial Group Inc. cut its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 49.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,980 shares of the oil and gas company's stock after selling 2,859 shares during the quarter. Johnson Financial Group Inc.'s holdings in Phillips 66 were worth $351,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bogart Wealth LLC boosted its position in shares of Phillips 66 by 120.0% in the fourth quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock worth $25,000 after buying an additional 120 shares during the period. J.Safra Asset Management Corp bought a new position in Phillips 66 during the fourth quarter valued at about $25,000. Stephens Consulting LLC raised its holdings in Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock valued at $28,000 after buying an additional 111 shares in the last quarter. Graney & King LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $28,000. Finally, Human Investing LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PSX. The Goldman Sachs Group downgraded Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price on the stock. in a research report on Thursday, March 27th. Piper Sandler lowered Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Scotiabank decreased their target price on Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Wells Fargo & Company lifted 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. Finally, Mizuho lowered their price objective on Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a research report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of "Moderate Buy" and a consensus target price of $140.43.

Phillips 66 Trading Down 0.7 %

NYSE:PSX opened at $103.98 on Monday. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $152.19. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock has a market capitalization of $42.37 billion, a PE ratio of 21.05, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. The business's 50-day simple moving average is $115.80 and its 200-day simple moving average is $121.04.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). The firm had revenue of $31.92 billion during the quarter, compared to the consensus estimate 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 previous year, the firm posted $1.90 EPS. Sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be paid a $1.20 dividend. The ex-dividend date of this dividend is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 4.62%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio (DPR) is currently 97.17%.

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.

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