Versant Capital Management Inc Trims Holdings in Phillips 66 (NYSE:PSX)

Versant Capital Management Inc lowered its stake in shares of Phillips 66 (NYSE:PSX) by 34.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,336 shares of the oil and gas company’s stock after selling 709 shares during the period. Versant Capital Management Inc’s holdings in Phillips 66 were worth $152,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PSX. Strategic Financial Concepts LLC purchased a new position in shares of Phillips 66 during the second quarter worth $26,000. nVerses Capital LLC purchased a new position in Phillips 66 during the 3rd quarter valued at about $26,000. Values First Advisors Inc. acquired a new position in Phillips 66 in the 3rd quarter valued at about $30,000. Point72 Hong Kong Ltd purchased a new stake in Phillips 66 during the third quarter worth about $40,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Phillips 66 during the second quarter worth about $51,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PSX shares. Wolfe Research raised shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Friday. UBS Group dropped their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Monday, November 4th. Scotiabank cut their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. JPMorgan Chase & Co. decreased their target price on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a report on Wednesday, October 2nd. Finally, TD Cowen cut their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Phillips 66 has an average rating of “Moderate Buy” and a consensus price target of $148.57.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $116.09 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 12 month low of $108.90 and a 12 month high of $174.08. The firm has a market capitalization of $47.94 billion, a P/E ratio of 14.90, a P/E/G ratio of 4.06 and a beta of 1.35. The company’s fifty day moving average price is $124.13 and its 200 day moving average price is $131.40.

Phillips 66 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the previous year, the business earned $4.63 EPS. As a group, sell-side analysts predict that Phillips 66 will post 7.56 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were given a dividend of $1.15 per share. The ex-dividend date was Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.96%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

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.