Phillips 66 (NYSE:PSX) Stake Lowered by American Century Companies Inc.

American Century Companies Inc. lowered its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 23.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 259,439 shares of the oil and gas company's stock after selling 79,119 shares during the quarter. American Century Companies Inc. owned approximately 0.06% of Phillips 66 worth $29,558,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Connor Clark & Lunn Investment Management Ltd. increased its stake in Phillips 66 by 113.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,703 shares of the oil and gas company's stock valued at $750,000 after purchasing an additional 3,030 shares during the last quarter. Townsquare Capital LLC lifted its holdings in shares of Phillips 66 by 6.3% during the 3rd quarter. Townsquare Capital LLC now owns 24,125 shares of the oil and gas company's stock worth $3,171,000 after acquiring an additional 1,427 shares during the period. Cynosure Group LLC acquired a new stake in shares of Phillips 66 in the third quarter worth approximately $201,000. CreativeOne Wealth LLC grew its holdings in Phillips 66 by 43.9% in the third quarter. CreativeOne Wealth LLC now owns 3,697 shares of the oil and gas company's stock valued at $486,000 after purchasing an additional 1,128 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Phillips 66 by 4.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 85,608 shares of the oil and gas company's stock worth $11,253,000 after purchasing an additional 3,889 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

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Phillips 66 Stock Down 0.7 %

Shares of PSX traded down $0.88 during trading on Tuesday, reaching $122.60. The company's stock had a trading volume of 746,902 shares, compared to its average volume of 2,774,580. The company has a market cap of $49.98 billion, a price-to-earnings ratio of 24.82, a P/E/G ratio of 4.84 and a beta of 1.31. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average of $124.82 and a two-hundred day moving average of $125.50. Phillips 66 has a twelve month low of $108.91 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS 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 quarter in the prior year, the company earned $3.09 EPS. On average, sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.75%. The ex-dividend date was Monday, February 24th. Phillips 66's dividend payout ratio is currently 93.12%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PSX. 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 report on Monday, February 3rd. Mizuho dropped their price target on Phillips 66 from $150.00 to $147.00 and set a "neutral" rating for the company in a research note on Monday, December 16th. Barclays raised their price objective on Phillips 66 from $115.00 to $135.00 and gave the stock an "equal weight" rating in a report on Friday, March 14th. StockNews.com downgraded shares of Phillips 66 from a "hold" rating to a "sell" rating in a research report on Sunday, March 2nd. Finally, Wolfe Research raised shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price target on the stock in a research report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.43.

About Phillips 66

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.