Adell Harriman & Carpenter Inc. Sells 9,810 Shares of Phillips 66 (NYSE:PSX)

Adell Harriman & Carpenter Inc. lowered its position in shares of Phillips 66 (NYSE:PSX) by 10.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 86,146 shares of the oil and gas company’s stock after selling 9,810 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Phillips 66 were worth $9,815,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in shares of Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after purchasing an additional 60,355 shares during the period. Flavin Financial Services Inc. purchased a new stake in Phillips 66 in the 4th quarter worth approximately $1,190,000. Everence Capital Management Inc. bought a new stake in shares of Phillips 66 in the 4th quarter worth approximately $3,033,000. Donoghue Forlines LLC purchased a new position in shares of Phillips 66 during the fourth quarter valued at approximately $1,438,000. Finally, Mizuho Securities USA LLC raised its holdings in shares of Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. 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. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday. UBS Group lowered their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Wells Fargo & Company upped their target price on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. One equities 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $148.00.

Phillips 66 Trading Up 2.1 %

Phillips 66 stock opened at $128.24 on Friday. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The company has a market capitalization of $52.96 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. The business’s fifty day simple moving average is $118.75 and its two-hundred day simple moving average is $127.54. 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 (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. As a group, equities analysts predict that Phillips 66 will post 7.14 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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 given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is currently 93.12%.

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.