Sandy Spring Bank Trims Holdings in Phillips 66 (NYSE:PSX)

Sandy Spring Bank trimmed its stake in Phillips 66 (NYSE:PSX) by 2.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 6,209 shares of the oil and gas company’s stock after selling 183 shares during the period. Sandy Spring Bank’s holdings in Phillips 66 were worth $707,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. Bogart Wealth LLC raised its stake in shares of Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 120 shares during the period. J.Safra Asset Management Corp purchased a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $25,000. Stephens Consulting LLC raised its stake in shares of Phillips 66 by 83.5% in the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 111 shares during the period. Human Investing LLC purchased a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $30,000. Finally, 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 valued at $31,000 after purchasing an additional 88 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. StockNews.com cut shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday, March 2nd. Barclays lifted their price objective on shares of Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a report on Friday, March 14th. Finally, Wells Fargo & Company lifted their price objective 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $149.43.

Phillips 66 Stock Down 2.6 %

Shares of NYSE:PSX opened at $125.51 on Friday. The company has a market capitalization of $51.17 billion, a PE ratio of 25.41, a P/E/G ratio of 4.84 and a beta of 1.31. 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 $108.91 and a twelve month high of $174.08. The firm has a 50 day simple moving average of $124.11 and a 200-day simple moving average of $125.71.

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 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 quarter in the previous year, the company posted $3.09 EPS. On average, equities analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $1.15 per share. The ex-dividend date was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 3.67%. Phillips 66’s dividend payout ratio is presently 93.12%.

Phillips 66 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.