Hartford Investment Management Co. Sells 855 Shares of Phillips 66 (NYSE:PSX)

Hartford Investment Management Co. lowered its position in shares of Phillips 66 (NYSE:PSX) by 3.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,476 shares of the oil and gas company’s stock after selling 855 shares during the quarter. Hartford Investment Management Co.’s holdings in Phillips 66 were worth $2,902,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Krane Funds Advisors LLC grew its stake in shares of Phillips 66 by 3.6% during the third quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 82 shares during the period. Webster Bank N. A. grew its stake in shares of Phillips 66 by 48.4% during 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 period. Cobblestone Capital Advisors LLC NY grew its stake in shares of Phillips 66 by 0.5% during the third quarter. Cobblestone Capital Advisors LLC NY now owns 17,548 shares of the oil and gas company’s stock worth $2,307,000 after purchasing an additional 89 shares during the period. Western Financial Corp CA grew its stake in Phillips 66 by 1.6% in the third quarter. Western Financial Corp CA now owns 5,882 shares of the oil and gas company’s stock valued at $773,000 after acquiring an additional 91 shares during the period. Finally, Avestar Capital LLC grew its stake in Phillips 66 by 5.1% in the third quarter. Avestar Capital LLC now owns 1,885 shares of the oil and gas company’s stock valued at $248,000 after acquiring an additional 92 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

NYSE:PSX opened at $125.05 on Thursday. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average price is $118.94 and its two-hundred day moving average price is $127.57. The firm has a market capitalization of $51.64 billion, a price-to-earnings ratio of 25.31, a P/E/G ratio of 5.64 and a beta of 1.37. Phillips 66 has a 12-month low of $108.90 and a 12-month high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate 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 earned $3.09 EPS. On average, analysts anticipate that Phillips 66 will post 7.14 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.68%. Phillips 66’s payout ratio is currently 93.12%.

Wall Street Analysts Forecast Growth

PSX has been the subject of several recent research reports. Barclays reduced their price objective on Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Wells Fargo & Company upped their price objective on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. 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 research report on Friday, January 3rd. Finally, StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, four have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

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.