Phillips 66 (NYSE:PSX) Stock Position Decreased by Ameriprise Financial Inc.

Ameriprise Financial Inc. lowered its holdings in Phillips 66 (NYSE:PSX - Free Report) by 11.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 513,757 shares of the oil and gas company's stock after selling 67,323 shares during the period. Ameriprise Financial Inc. owned about 0.12% of Phillips 66 worth $58,530,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in PSX. NewEdge Wealth LLC lifted 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 valued at $1,732,000 after purchasing an additional 81 shares in the last quarter. JBR Co Financial Management Inc raised its position 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 valued at $1,085,000 after buying an additional 85 shares during the last quarter. Nwam LLC lifted its stake in Phillips 66 by 2.2% in the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock valued at $442,000 after acquiring an additional 85 shares in the last quarter. Webster Bank N. A. boosted its position in 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 acquiring an additional 88 shares during the last quarter. Finally, PFG Private Wealth Management LLC grew its stake in shares of Phillips 66 by 7.7% during the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock worth $140,000 after acquiring an additional 88 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PSX shares. UBS Group reduced their target price on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a report on Monday, April 28th. Raymond James reduced their price target on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. TD Cowen lowered their price target on Phillips 66 from $127.00 to $114.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Mizuho cut their price objective on Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Finally, StockNews.com raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Six research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $136.36.

Phillips 66 Trading Up 1.5 %

PSX stock opened at $110.86 on Friday. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $150.12. The company has a market capitalization of $45.17 billion, a PE ratio of 22.44, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. The company's 50-day simple moving average is $111.61 and its 200 day simple moving average is $119.31. 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 results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion during the quarter, compared to analyst estimates 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 earnings per share. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 earnings per share 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 given a dividend of $1.20 per share. This is a boost 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 4.33%. Phillips 66's dividend payout ratio is currently 109.34%.

About Phillips 66

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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