FORA Capital LLC Lowers Stake in Phillips 66 (NYSE:PSX)

FORA Capital LLC trimmed its position in shares of Phillips 66 (NYSE:PSX) by 92.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,977 shares of the oil and gas company’s stock after selling 74,442 shares during the period. FORA Capital LLC’s holdings in Phillips 66 were worth $681,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PSX. Bogart Wealth LLC boosted its holdings in Phillips 66 by 120.0% during 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 acquired a new stake in shares of Phillips 66 during the fourth quarter worth about $25,000. Stephens Consulting LLC boosted 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 purchasing an additional 111 shares during the period. Graney & King LLC acquired a new position in shares of Phillips 66 in the fourth quarter valued at approximately $28,000. Finally, Human Investing LLC acquired a new stake in Phillips 66 during the 4th quarter worth approximately $30,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 1.5 %

PSX opened at $110.86 on Friday. 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 has a 52 week low of $91.01 and a 52 week high of $150.12. The business’s 50 day moving average is $111.61 and its two-hundred day moving average is $119.37. The firm has a market cap of $45.17 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion during the quarter, compared to analyst estimates of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the previous year, the firm earned $1.90 earnings per share. On average, research analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.33%. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s dividend payout ratio (DPR) is currently 109.34%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Mizuho cut their price objective on Phillips 66 from $140.00 to $132.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley decreased their price objective on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a research note on Thursday, April 24th. StockNews.com upgraded shares of Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. Raymond James reduced their target price on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Finally, Scotiabank lowered their price target on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, April 11th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $136.36.

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.