Tortoise Capital Advisors L.L.C. Sells 5,588 Shares of Phillips 66 (NYSE:PSX)

Tortoise Capital Advisors L.L.C. reduced its position in Phillips 66 (NYSE:PSX) by 42.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,585 shares of the oil and gas company’s stock after selling 5,588 shares during the quarter. Tortoise Capital Advisors L.L.C.’s holdings in Phillips 66 were worth $845,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp boosted its position in shares of Phillips 66 by 4.9% in the third quarter. State Street Corp now owns 22,727,392 shares of the oil and gas company’s stock worth $2,327,285,000 after purchasing an additional 1,064,558 shares during the period. LSV Asset Management boosted its position in shares of Phillips 66 by 2.9% in the fourth quarter. LSV Asset Management now owns 4,748,650 shares of the oil and gas company’s stock worth $529,047,000 after purchasing an additional 134,915 shares during the period. Parametric Portfolio Associates LLC boosted its position in shares of Phillips 66 by 3.7% in the third quarter. Parametric Portfolio Associates LLC now owns 2,177,110 shares of the oil and gas company’s stock worth $222,936,000 after purchasing an additional 76,933 shares during the period. Prudential Financial Inc. boosted its position in shares of Phillips 66 by 7.0% during the fourth quarter. Prudential Financial Inc. now owns 2,092,276 shares of the oil and gas company’s stock worth $233,101,000 after acquiring an additional 136,699 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Phillips 66 by 4.9% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,018,385 shares of the oil and gas company’s stock worth $224,868,000 after acquiring an additional 93,390 shares during the last quarter. Institutional investors and hedge funds own 69.99% of the company’s stock.

In other Phillips 66 news, Director John E. Lowe acquired 1,000 shares of the stock in a transaction on Monday, March 2nd. The stock was acquired at an average price of $74.93 per share, for a total transaction of $74,930.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.13% of the stock is owned by company insiders.

A number of equities analysts recently weighed in on the stock. Cowen dropped their target price on shares of Phillips 66 from $127.00 to $115.00 and set an “outperform” rating for the company in a research report on Monday, February 3rd. Zacks Investment Research lowered shares of Phillips 66 from a “hold” rating to a “strong sell” rating and set a $75.00 target price for the company. in a research report on Wednesday, February 19th. Morgan Stanley upgraded shares of Phillips 66 from an “equal weight” rating to an “overweight” rating and set a $68.00 target price for the company in a research report on Monday, March 16th. Credit Suisse Group upgraded shares of Phillips 66 from a “neutral” rating to an “outperform” rating and set a $100.00 target price for the company in a research report on Monday, March 9th. Finally, Piper Sandler dropped their target price on shares of Phillips 66 from $139.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $93.00.

PSX stock traded up $3.89 during trading on Thursday, hitting $54.39. 6,014,346 shares of the company’s stock traded hands, compared to its average volume of 4,263,129. Phillips 66 has a 52 week low of $40.04 and a 52 week high of $119.92. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.91 and a current ratio of 1.24. The business has a fifty day simple moving average of $73.08 and a 200 day simple moving average of $99.70. The stock has a market capitalization of $20.03 billion, a price-to-earnings ratio of 8.02, a P/E/G ratio of 0.96 and a beta of 1.17.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, January 31st. The oil and gas company reported $1.54 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.53 by $0.01. Phillips 66 had a net margin of 2.81% and a return on equity of 13.51%. The business had revenue of $29.61 billion during the quarter, compared to analyst estimates of $27.30 billion. During the same quarter last year, the business earned $4.87 earnings per share. Research analysts forecast that Phillips 66 will post 7.13 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 2nd. Shareholders of record on Tuesday, February 18th were given a dividend of $0.90 per share. The ex-dividend date was Friday, February 14th. This represents a $3.60 annualized dividend and a yield of 6.62%. Phillips 66’s dividend payout ratio (DPR) is currently 44.72%.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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