South Street Advisors LLC Has $684,000 Stock Position in Phillips 66 (NYSE:PSX)

South Street Advisors LLC reduced its stake in shares of Phillips 66 (NYSE:PSX) by 20.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,000 shares of the oil and gas company’s stock after selling 1,520 shares during the quarter. South Street Advisors LLC’s holdings in Phillips 66 were worth $684,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Bank of New York Mellon Corp grew its holdings in shares of Phillips 66 by 7.3% during the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after purchasing an additional 639,323 shares in the last quarter. Amundi grew its holdings in shares of Phillips 66 by 25.7% during the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after purchasing an additional 753,653 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Phillips 66 by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,002,995 shares of the oil and gas company’s stock worth $342,131,000 after purchasing an additional 101,108 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock worth $214,120,000 after purchasing an additional 633,970 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Phillips 66 during the 4th quarter worth $168,790,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of PSX opened at $129.27 on Tuesday. 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. The company has a market capitalization of $52.70 billion, a price-to-earnings ratio of 26.17, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The business has a 50-day moving average of $123.11 and a 200-day moving average of $125.85.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data 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 period in the prior year, the company earned $3.09 EPS. As a group, equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.56%. Phillips 66’s dividend payout ratio is currently 93.12%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a research note on Friday, January 3rd. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Barclays raised their price objective on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research note on Friday. Mizuho reduced their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research note on Monday, December 16th. Finally, Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $149.43.

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.