Aviva PLC Trims Stake in Phillips 66 (NYSE:PSX)

Aviva PLC lessened its position in Phillips 66 (NYSE:PSX) by 14.3% in the fourth quarter, HoldingsChannel reports. The firm owned 252,689 shares of the oil and gas company’s stock after selling 42,235 shares during the quarter. Aviva PLC’s holdings in Phillips 66 were worth $28,789,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PSX. NewEdge Wealth LLC grew its position in shares of Phillips 66 by 0.5% during 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 purchasing an additional 81 shares in the last quarter. JBR Co Financial Management Inc boosted its stake in 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 buying an additional 85 shares during the last quarter. Nwam LLC boosted its stake in 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 buying an additional 85 shares during the last quarter. Webster Bank N. A. grew its holdings in 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 buying an additional 88 shares in the last quarter. Finally, PFG Private Wealth Management LLC increased its stake in 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 currently owned by institutional investors.

Phillips 66 Stock Performance

Shares of Phillips 66 stock opened at $98.65 on Monday. 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 stock’s fifty day moving average is $124.24 and its two-hundred day moving average is $125.09. Phillips 66 has a 52 week low of $95.67 and a 52 week high of $171.41. The company has a market capitalization of $40.22 billion, a PE ratio of 19.97, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 quarter in the previous year, the business earned $3.09 EPS. As a group, analysts expect that Phillips 66 will post 6.8 earnings per share 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. The ex-dividend date was Monday, February 24th. This represents a $4.60 dividend on an annualized basis and a yield of 4.66%. Phillips 66’s dividend payout ratio is currently 93.12%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PSX shares. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Wells Fargo & Company lifted their price objective on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Mizuho decreased their target price on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target for the company in a research report on Friday, January 3rd. Finally, Barclays upped their price objective on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target 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.