Phillips 66 (NYSE:PSX) Shares Sold by Atria Investments Inc

Atria Investments Inc lowered its stake in Phillips 66 (NYSE:PSX - Free Report) by 24.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 25,485 shares of the oil and gas company's stock after selling 8,254 shares during the quarter. Atria Investments Inc's holdings in Phillips 66 were worth $3,350,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Van ECK Associates Corp raised its stake in shares of Phillips 66 by 263.3% during the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company's stock valued at $10,753,000 after acquiring an additional 60,355 shares during the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Phillips 66 in the 2nd quarter worth approximately $17,670,000. M&G Plc bought a new position in shares of Phillips 66 during the second quarter valued at $3,596,000. Cetera Investment Advisers raised its holdings in Phillips 66 by 318.9% in the first quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company's stock worth $23,284,000 after buying an additional 108,515 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in shares of Phillips 66 by 4.5% in the first quarter. Blair William & Co. IL now owns 187,152 shares of the oil and gas company's stock worth $30,569,000 after buying an additional 8,102 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Price Performance

Phillips 66 stock traded down $0.15 during midday trading on Thursday, reaching $129.76. 1,875,954 shares of the stock traded hands, compared to its average volume of 2,664,371. 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 has a 12 month low of $111.90 and a 12 month high of $174.08. The stock's fifty day moving average is $129.68 and its 200-day moving average is $136.00. The stock has a market cap of $53.59 billion, a P/E ratio of 16.57, a PEG ratio of 4.18 and a beta of 1.33.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. Phillips 66's revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period last year, the firm posted $4.63 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.55%. Phillips 66's dividend payout ratio is 59.05%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PSX shares. Scotiabank reduced their price target on shares of Phillips 66 from $145.00 to $136.00 and set a "sector outperform" rating for the company in a research report on Thursday, October 10th. Mizuho dropped their target price on Phillips 66 from $154.00 to $150.00 and set a "neutral" rating on the stock in a research report on Monday, September 16th. TD Cowen decreased their target price on Phillips 66 from $162.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, September 11th. Barclays cut their price target on Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating for the company in a report on Monday. Finally, Piper Sandler set a $144.00 price objective on Phillips 66 in a research report on Thursday, October 17th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, Phillips 66 has an average rating of "Moderate Buy" and an average target price of $149.69.

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.