Nations Financial Group Inc. IA ADV Sells 3,585 Shares of Phillips 66 (NYSE:PSX)

Nations Financial Group Inc. IA ADV reduced its position in shares of Phillips 66 (NYSE:PSX) by 8.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 40,727 shares of the oil and gas company’s stock after selling 3,585 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Phillips 66 were worth $4,640,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp boosted its holdings in Phillips 66 by 263.3% in the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after acquiring an additional 60,355 shares during the last quarter. Flavin Financial Services Inc. bought a new stake in Phillips 66 in the fourth quarter valued at approximately $1,190,000. Everence Capital Management Inc. bought a new stake in Phillips 66 in the fourth quarter valued at approximately $3,033,000. Donoghue Forlines LLC bought a new stake in Phillips 66 in the fourth quarter valued at approximately $1,438,000. Finally, Mizuho Securities USA LLC boosted its holdings in Phillips 66 by 7,549.0% in 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 during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on PSX shares. Wells Fargo & Company upped their target price on Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday. Barclays dropped their price target on 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. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Finally, UBS Group dropped their price target on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

Phillips 66 Trading Up 2.1 %

Shares of Phillips 66 stock opened at $128.24 on Friday. The stock has a fifty day simple moving average of $118.75 and a 200 day simple moving average of $127.54. 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 P/E ratio of 25.96, a price-to-earnings-growth ratio of 5.64 and a beta of 1.37. 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 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 period in the prior year, the company posted $3.09 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 7.14 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 5th. Investors of record on Monday, February 24th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, February 24th. This represents a $4.60 annualized dividend and a yield of 3.59%. Phillips 66’s dividend payout ratio (DPR) is currently 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.