FourThought Financial Partners LLC Reduces Stake in Phillips 66

FourThought Financial Partners LLC has announced a significant reduction in its holdings of Phillips 66 (NYSE:PSX - Free Report), decreasing its stake by 56.1% during the fourth quarter. As per the latest filing with the Securities and Exchange Commission, the institutional investor now holds 21,382 shares of the oil and gas company's stock after selling 27,365 shares during this period. By the end of the last quarter, FourThought's investment in Phillips 66 was valued at approximately $2.44 million.

Market Movements and Other Institutional Investors' Activity

Despite volatility in the market, Phillips 66's stock has shown resilience. Other institutional investors also adjusted their positions in Phillips 66 recently. For instance, Bogart Wealth LLC boosted its stake by 120% during the fourth quarter, bringing its total to 220 shares valued at $25,000 after acquiring an additional 120 shares. Likewise, Stephens Consulting LLC increased its holdings by 83.5%, now owning 244 shares valued at $28,000 after adding 111 shares. Human Investing LLC initiated a new position in the company worth $30,000. Webster Bank N. A. raised its investment in Phillips 66 by 48.4%, owning 270 shares valued at $31,000 after acquiring an extra 88 shares. Additionally, YANKCOM Partnership also purchased a new position in Phillips 66 valued at about $31,000. Notably, institutional investors and hedge funds collectively hold 76.93% of Phillips 66 stock.

Current Stock Performance

As of Tuesday, shares of Phillips 66 (NYSE:PSX) opened at $127.30. The company has a 50-day moving average price of $119.39 and a 200-day moving average price of $126.97. Financial metrics reveal a debt-to-equity ratio of 0.62, a quick ratio of 0.83, and a current ratio of 1.21, with a market capitalization reaching $52.57 billion. Phillips 66 has reported a PE ratio of 25.77, a PEG ratio of 4.84, and a beta of 1.37. Over the past year, the stock has seen a low of $108.90 and a high of $174.08.

Recent Earnings and Dividend Announcement

On January 31, Phillips 66 released its quarterly earnings report, showing an EPS of ($0.15) for the quarter, which fell short of analyst expectations of $1.23 by ($1.38). The company's net margin stood at 1.46%, with a return on equity of 8.58%. In the previous year, during the same quarter, Phillips 66 had an EPS of $3.09. Analysts project that the company will achieve an EPS of 6.8 for the current year.

Additionally, Phillips 66 announced its quarterly dividend, which is set to be paid on March 5. Shareholders on record as of February 24 will receive a dividend of $1.15 per share, amounting to an annualized dividend of $4.60. This provides a dividend yield of 3.61%, and the ex-dividend date is also February 24. The current dividend payout ratio is approximately 93.12%.

Analyst Ratings and Recommendations

Recent analyses from several research firms have varied in their outlook for Phillips 66. StockNews.com has upgraded the company's shares from a "sell" to a "hold" rating. Conversely, Piper Sandler downgraded its rating from "strong-buy" to "hold". Additionally, UBS Group adjusted its price target for the shares from $150.00 to $138.00, maintaining a "buy" rating. Wells Fargo increased its price objective for Phillips 66 from $161.00 to $162.00, providing an "overweight" rating. Meanwhile, Mizuho reduced its target price from $150.00 to $147.00 and recommends a "neutral" position. Currently, five analysts rate the stock as a hold, with ten assigning a buy rating. MarketBeat.com reports an average rating of "Moderate Buy" and an average price target of $148.00.

Company Overview: Phillips 66

Phillips 66 is a major player in the energy sector, functioning as a manufacturing and logistics company operating not only in the United States but also in the United Kingdom, Germany, and internationally. The company operates through four main segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). Each segment provides various services, including the transportation of crude oil and refined petroleum products, storage services, and the marketing of natural gas liquids.

Investment, Market, Finance