Cetera Investment Advisers lessened its stake in Phillips 66 (NYSE:PSX) by 2.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,410 shares of the oil and gas company’s stock after selling 113 shares during the quarter. Cetera Investment Advisers’ holdings in Phillips 66 were worth $517,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund increased its stake in Phillips 66 by 3,775.2% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 4,647,103 shares of the oil and gas company’s stock worth $54,000 after acquiring an additional 4,527,183 shares during the last quarter. Norges Bank acquired a new stake in Phillips 66 during the fourth quarter worth $386,757,000. LSV Asset Management increased its stake in Phillips 66 by 96.9% during the fourth quarter. LSV Asset Management now owns 3,201,428 shares of the oil and gas company’s stock worth $275,803,000 after acquiring an additional 1,575,744 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Phillips 66 by 7.6% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 13,645,296 shares of the oil and gas company’s stock worth $1,175,542,000 after acquiring an additional 958,545 shares during the last quarter. Finally, Vanguard Group Inc increased its stake in Phillips 66 by 2.8% during the third quarter. Vanguard Group Inc now owns 32,998,567 shares of the oil and gas company’s stock worth $3,719,598,000 after acquiring an additional 885,979 shares during the last quarter. 71.83% of the stock is owned by hedge funds and other institutional investors.
PSX has been the subject of several recent analyst reports. Tudor Pickering raised Phillips 66 from a “hold” rating to a “buy” rating in a research note on Friday, February 8th. Argus cut their target price on Phillips 66 to $116.00 and set a “buy” rating for the company in a research note on Thursday, February 14th. Citigroup raised their target price on Phillips 66 from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Jefferies Financial Group cut Phillips 66 from a “buy” rating to a “hold” rating and raised their target price for the stock from $105.00 to $107.00 in a research note on Monday, April 15th. Finally, ValuEngine cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Monday, April 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $120.67.
PSX opened at $86.92 on Thursday. Phillips 66 has a 52 week low of $78.44 and a 52 week high of $123.97. The firm has a market cap of $38.91 billion, a PE ratio of 7.42, a PEG ratio of 1.36 and a beta of 0.91. The company has a quick ratio of 0.84, a current ratio of 1.31 and a debt-to-equity ratio of 0.42.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, April 30th. The oil and gas company reported $0.40 EPS for the quarter, topping the consensus estimate of $0.34 by $0.06. Phillips 66 had a return on equity of 19.96% and a net margin of 4.63%. The business had revenue of $23.66 billion during the quarter, compared to analyst estimates of $24.66 billion. During the same period last year, the business posted $1.04 earnings per share. Equities research analysts predict that Phillips 66 will post 7.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a dividend of $0.90 per share. This is a positive change from Phillips 66’s previous quarterly dividend of $0.80. This represents a $3.60 annualized dividend and a dividend yield of 4.14%. The ex-dividend date of this dividend is Friday, May 17th. Phillips 66’s dividend payout ratio (DPR) is currently 27.33%.
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Phillips 66 Profile
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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