Patten Group Inc. Trims Stake in Phillips 66 (NYSE:PSX)

Patten Group Inc. decreased its stake in shares of Phillips 66 (NYSE:PSX) by 5.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,220 shares of the oil and gas company’s stock after selling 450 shares during the period. Patten Group Inc.’s holdings in Phillips 66 were worth $937,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Bogart Wealth LLC increased its position in Phillips 66 by 120.0% during the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 120 shares in the last quarter. Stephens Consulting LLC boosted its stake 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 purchasing an additional 111 shares during the last quarter. Human Investing LLC purchased a new stake in shares of Phillips 66 during the fourth quarter worth about $30,000. Webster Bank N. A. raised its position in shares of Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 88 shares during the last quarter. Finally, YANKCOM Partnership purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $31,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PSX has been the subject of several analyst reports. Wells Fargo & Company boosted 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. UBS Group lowered their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Mizuho reduced their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Barclays lowered their price target on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a report on Monday, January 13th. Finally, Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Stock Performance

NYSE:PSX opened at $125.03 on Tuesday. The firm’s fifty day simple moving average is $120.89 and its 200 day simple moving average is $126.63. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. Phillips 66 has a twelve month low of $108.90 and a twelve month high of $174.08. The firm has a market capitalization of $50.97 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 4.84 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the firm posted $3.09 EPS. As a group, equities research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.68%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is 93.12%.

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.