Summit Financial LLC Sells 122 Shares of Phillips 66 (NYSE:PSX)

Summit Financial LLC decreased its stake in Phillips 66 (NYSE:PSX) by 0.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,741 shares of the oil and gas company’s stock after selling 122 shares during the quarter. Summit Financial LLC’s holdings in Phillips 66 were worth $2,249,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. NewEdge Wealth LLC grew its stake in shares of Phillips 66 by 0.5% during the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock valued at $1,732,000 after purchasing an additional 81 shares during the last quarter. JBR Co Financial Management Inc boosted its position in Phillips 66 by 0.9% in the 4th quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock valued at $1,085,000 after buying an additional 85 shares during the last quarter. Nwam LLC increased its stake in shares of Phillips 66 by 2.2% in the 4th quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock valued at $442,000 after buying an additional 85 shares during the period. Webster Bank N. A. raised its position 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 acquiring an additional 88 shares during the last quarter. Finally, PFG Private Wealth Management LLC lifted its stake in shares of Phillips 66 by 7.7% during the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock valued at $140,000 after acquiring an additional 88 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Mizuho lowered their price objective on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a research report on Monday, December 16th. Barclays lifted their price target on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. Piper Sandler lowered 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 research note on Sunday, March 2nd. Finally, Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $146.43.

Phillips 66 Stock Up 1.6 %

Shares of Phillips 66 stock opened at $123.72 on Tuesday. The company has a market capitalization of $50.44 billion, a P/E ratio of 25.04, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. 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 business has a 50-day moving average of $124.82 and a two-hundred day moving average of $125.50. Phillips 66 has a 1 year low of $108.91 and a 1 year high of $174.08.

Phillips 66 (NYSE:PSX) last posted its 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 period in the prior year, the firm earned $3.09 EPS. As a group, equities analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a dividend of $1.15 per share. The ex-dividend date was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.72%. Phillips 66’s payout ratio is 93.12%.

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.