Thrivent Financial for Lutherans Sells 17,537 Shares of Phillips 66 (NYSE:PSX)

Thrivent Financial for Lutherans lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 27.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,899 shares of the oil and gas company’s stock after selling 17,537 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Phillips 66 were worth $5,425,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. NewEdge Wealth LLC raised its holdings in Phillips 66 by 0.5% during the 4th quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company’s stock worth $1,732,000 after buying an additional 81 shares during the period. JBR Co Financial Management Inc increased its position in shares of Phillips 66 by 0.9% during the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company’s stock worth $1,085,000 after acquiring an additional 85 shares in the last quarter. Nwam LLC raised its holdings in shares of Phillips 66 by 2.2% during the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company’s stock worth $442,000 after acquiring an additional 85 shares during the period. Webster Bank N. A. lifted its position in Phillips 66 by 48.4% in the 4th quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 88 shares in the last quarter. Finally, PFG Private Wealth Management LLC boosted its stake in Phillips 66 by 7.7% in the 4th quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company’s stock worth $140,000 after purchasing an additional 88 shares during the period. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $126.56 on Tuesday. Phillips 66 has a twelve month low of $108.91 and a twelve month high of $174.08. The company has a market cap of $51.60 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31. The business’s 50 day moving average price is $124.32 and its two-hundred day moving average price is $125.58. 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 (NYSE:PSX) last posted its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period in the prior year, the firm posted $3.09 earnings per share. On average, analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio is 93.12%.

Wall Street Analyst Weigh In

Several analysts have issued reports on PSX shares. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price target on the stock in a research note on Friday, January 3rd. Piper Sandler cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, January 10th. Barclays raised their price target on shares of Phillips 66 from $115.00 to $135.00 and gave the stock an “equal weight” rating in a research note on Friday, March 14th. Mizuho cut their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a research report on Monday, December 16th. Finally, Wells Fargo & Company lifted their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $147.54.

Phillips 66 Company 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.