Cookson Peirce & Co. Inc. Sells 940 Shares of Phillips 66 (NYSE:PSX)

Cookson Peirce & Co. Inc. trimmed its stake in Phillips 66 (NYSE:PSX) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,392 shares of the oil and gas company’s stock after selling 940 shares during the quarter. Cookson Peirce & Co. Inc.’s holdings in Phillips 66 were worth $614,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSX. Bank of New York Mellon Corp grew its stake in shares of Phillips 66 by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock valued at $1,064,601,000 after buying an additional 639,323 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in 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 valued at $342,131,000 after acquiring an additional 101,108 shares during the period. Mizuho Securities USA LLC grew its position in Phillips 66 by 7,549.0% during the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock worth $328,625,000 after acquiring an additional 2,467,316 shares during the last quarter. Bank of Montreal Can increased its stake in Phillips 66 by 63.4% in 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 during the period. Finally, ING Groep NV lifted its position in Phillips 66 by 123.2% in the third quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock valued at $155,503,000 after purchasing an additional 653,032 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Performance

Phillips 66 stock opened at $119.88 on Thursday. Phillips 66 has a twelve month low of $108.91 and a twelve month high of $174.08. 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 company has a market capitalization of $48.88 billion, a P/E ratio of 24.27, a PEG ratio of 4.84 and a beta of 1.37. The stock’s 50 day moving average is $121.27 and its 200 day moving average is $126.47.

Phillips 66 (NYSE:PSX) last issued 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 net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the company earned $3.09 EPS. On average, equities research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.84%. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays decreased their target price on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Monday, January 13th. Wolfe Research raised 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 research note on Friday, January 3rd. Wells Fargo & Company increased their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a report on Sunday. Finally, Mizuho reduced their target price 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.