Advisors Asset Management Inc. Has $7.22 Million Holdings in Phillips 66 (NYSE:PSX)

Advisors Asset Management Inc. trimmed its position in Phillips 66 (NYSE:PSX) by 13.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,346 shares of the oil and gas company’s stock after selling 9,633 shares during the quarter. Advisors Asset Management Inc.’s holdings in Phillips 66 were worth $7,217,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. lifted its holdings in shares of Phillips 66 by 10.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company’s stock worth $5,349,000 after acquiring an additional 4,515 shares during the period. Flavin Financial Services Inc. acquired a new position in Phillips 66 in the fourth quarter worth about $1,190,000. Everence Capital Management Inc. bought a new position in Phillips 66 during the fourth quarter worth about $3,033,000. Donoghue Forlines LLC acquired a new stake in Phillips 66 during the fourth quarter valued at approximately $1,438,000. Finally, Smith Group Asset Management LLC bought a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $1,149,000. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Down 0.7 %

Shares of PSX opened at $128.34 on Wednesday. The business’s fifty day moving average price is $123.37 and its two-hundred day moving average price is $125.77. The firm has a market capitalization of $52.32 billion, a price-to-earnings ratio of 25.98, a PEG ratio of 4.84 and a beta of 1.31. Phillips 66 has a 52 week low of $108.91 and a 52 week high of $174.08. 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) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the firm posted $3.09 earnings per share. On average, analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.58%. Phillips 66’s dividend payout ratio is currently 93.12%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PSX. Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Barclays upped their target price on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a report on Friday, March 14th. StockNews.com downgraded shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Finally, Wells Fargo & Company boosted their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $149.43.

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.