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

Versant Capital Management Inc trimmed 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 Securities and Exchange Commission. The firm owned 1,336 shares of the oil and gas company’s stock after selling 709 shares during the quarter. Versant Capital Management Inc’s holdings in Phillips 66 were worth $152,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of PSX. Strategic Financial Concepts LLC acquired a new stake 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 worth $26,000. Values First Advisors Inc. acquired a new stake in shares of Phillips 66 in the 3rd quarter worth $30,000. Point72 Hong Kong Ltd purchased a new stake in shares of Phillips 66 in the third quarter valued at about $40,000. Finally, Strategic Investment Solutions Inc. IL acquired a new position in shares of Phillips 66 during the second quarter worth about $51,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 1.5 %

Shares of Phillips 66 stock opened at $116.09 on Friday. Phillips 66 has a 1 year low of $108.90 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The business has a 50 day moving average price of $124.13 and a 200 day moving average price of $131.40. The company 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.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion for 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 revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the business earned $4.63 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 7.56 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued 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%.

Analysts Set New Price Targets

Several equities analysts have issued reports on PSX shares. Scotiabank dropped their target price 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. Piper Sandler set a $144.00 price objective on Phillips 66 in a report on Thursday, October 17th. Mizuho reduced their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. Barclays decreased their target price on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research report on Monday, November 11th. Finally, Wolfe Research upgraded 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. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $148.57.

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.