Sei Investments Co. Decreases Stake in Phillips 66 (NYSE:PSX)

Sei Investments Co. decreased its holdings in Phillips 66 (NYSE:PSX) by 6.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 117,156 shares of the oil and gas company’s stock after selling 7,434 shares during the period. Sei Investments Co.’s holdings in Phillips 66 were worth $13,349,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. 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 position in Phillips 66 in the fourth quarter valued at about $25,000. Stephens Consulting LLC grew its stake in shares of Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 111 shares in the last quarter. Human Investing LLC purchased a new stake in shares of Phillips 66 during the 4th quarter valued at about $30,000. Finally, Webster Bank N. A. boosted its holdings in Phillips 66 by 48.4% in the 4th 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 period. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $121.67 on Friday. The company has a market cap of $49.60 billion, a PE ratio of 24.63, a P/E/G ratio of 4.84 and a beta of 1.31. Phillips 66 has a fifty-two week low of $108.91 and a fifty-two week high of $174.08. The firm has a 50-day simple moving average of $124.76 and a 200 day simple moving average of $125.52. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS 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 business earned $3.09 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date was Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

Analysts Set New Price Targets

A number of research firms have recently commented on PSX. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective on the stock in a report on Friday, January 3rd. Barclays lifted their target price on Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research report on Friday, March 14th. The Goldman Sachs Group downgraded Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target for the company. in a report on Thursday. Finally, Piper Sandler downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $146.43.

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.