HUB Investment Partners LLC Sells 7,283 Shares of Phillips 66 (NYSE:PSX)

HUB Investment Partners LLC trimmed its position in Phillips 66 (NYSE:PSX) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 103,407 shares of the oil and gas company’s stock after selling 7,283 shares during the quarter. HUB Investment Partners LLC’s holdings in Phillips 66 were worth $11,781,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in PSX. NewEdge Wealth LLC boosted its position in Phillips 66 by 0.5% in 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 buying an additional 81 shares in the last quarter. JBR Co Financial Management Inc raised its holdings in shares of Phillips 66 by 0.9% during the fourth 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 purchasing an additional 85 shares during the period. Nwam LLC raised its holdings in shares of Phillips 66 by 2.2% during the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock valued at $442,000 after purchasing an additional 85 shares during the period. Webster Bank N. A. raised its holdings in shares of 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 last quarter. Finally, PFG Private Wealth Management LLC raised its holdings in shares of Phillips 66 by 7.7% in the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock worth $140,000 after acquiring an additional 88 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Trading Up 0.5 %

Shares of PSX opened at $129.05 on Thursday. Phillips 66 has a twelve month low of $108.91 and a twelve month high of $174.08. The company has a market cap of $52.61 billion, a P/E ratio of 26.12, a P/E/G ratio of 4.84 and a beta of 1.31. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The company’s fifty day simple moving average is $123.63 and its 200-day simple moving average is $125.79.

Phillips 66 (NYSE:PSX) last posted its quarterly 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. As a group, analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 3.56%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s payout ratio is 93.12%.

Wall Street Analyst Weigh In

PSX has been the subject of a number of research reports. Mizuho reduced their target price on shares of 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 target price 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. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Wolfe Research raised 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 report on Friday, January 3rd. Finally, Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $149.43.

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.