Cobblestone Capital Advisors LLC NY Cuts Stock Holdings in Phillips 66 (NYSE:PSX)

Cobblestone Capital Advisors LLC NY decreased its holdings in Phillips 66 (NYSE:PSX) by 1.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,325 shares of the oil and gas company’s stock after selling 223 shares during the period. Cobblestone Capital Advisors LLC NY’s holdings in Phillips 66 were worth $1,974,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PSX. Bogart Wealth LLC increased its position in Phillips 66 by 120.0% during the fourth 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 last quarter. Stephens Consulting LLC grew its stake in shares of Phillips 66 by 83.5% during the 4th quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 111 shares during the period. Human Investing LLC purchased a new stake in shares of Phillips 66 during the 4th quarter valued at about $30,000. Webster Bank N. A. increased its position in shares of Phillips 66 by 48.4% during the 4th 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 during the last quarter. Finally, YANKCOM Partnership bought a new position in shares of Phillips 66 in the 4th quarter worth approximately $31,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 1.9 %

PSX stock opened at $129.81 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 1-year low of $108.90 and a 1-year high of $174.08. The business has a 50 day simple moving average of $120.60 and a two-hundred day simple moving average of $126.86. The company has a market capitalization of $52.92 billion, a price-to-earnings ratio of 26.28, a PEG ratio of 4.84 and a beta of 1.37.

Phillips 66 (NYSE:PSX) last released 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 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 earnings per share. Research analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.54%. The ex-dividend date of this dividend is Monday, February 24th. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Analysts Set New Price Targets

PSX has been the subject of several recent research reports. StockNews.com upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research report on Saturday, February 22nd. Barclays cut their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. UBS Group decreased their target price on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Mizuho cut their price target on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Finally, Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 has a consensus 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.