Plato Investment Management Ltd Sells 1,447 Shares of Phillips 66 (NYSE:PSX)

Plato Investment Management Ltd decreased its position in Phillips 66 (NYSE:PSX) by 62.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 880 shares of the oil and gas company’s stock after selling 1,447 shares during the period. Plato Investment Management Ltd’s holdings in Phillips 66 were worth $101,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Bogart Wealth LLC grew its holdings 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 purchasing an additional 120 shares during the last quarter. Stephens Consulting LLC grew its holdings in shares of Phillips 66 by 83.5% in the fourth 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 bought a new position in shares of Phillips 66 in the fourth quarter worth approximately $30,000. Webster Bank N. A. grew its holdings 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 worth $31,000 after purchasing an additional 88 shares during the last quarter. Finally, YANKCOM Partnership bought a new position in shares of Phillips 66 in the fourth quarter worth approximately $31,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $119.88 on Thursday. The stock has a market cap of $48.88 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 4.84 and a beta of 1.37. The firm’s 50-day moving average is $121.27 and its 200 day moving average is $126.47. Phillips 66 has a 1 year low of $108.91 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (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 quarter in the prior year, the firm posted $3.09 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.84%. The ex-dividend date was Monday, February 24th. Phillips 66’s dividend payout ratio is currently 93.12%.

Analyst Ratings Changes

PSX has been the topic of several recent analyst reports. Mizuho cut their price target on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company lifted their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Barclays cut their price target on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a report on Monday, January 13th. Finally, StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $148.00.

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.