Phillips 66 (NYSE:PSX) Shares Bought by Cerity Partners LLC

Cerity Partners LLC grew its holdings in Phillips 66 (NYSE:PSX - Free Report) by 8.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 65,830 shares of the oil and gas company's stock after acquiring an additional 5,255 shares during the quarter. Cerity Partners LLC's holdings in Phillips 66 were worth $8,653,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PSX. Great Valley Advisor Group Inc. raised its holdings in Phillips 66 by 1.8% during the third quarter. Great Valley Advisor Group Inc. now owns 15,499 shares of the oil and gas company's stock worth $2,037,000 after purchasing an additional 267 shares in the last quarter. Meridian Wealth Management LLC acquired a new stake in Phillips 66 during the 3rd quarter worth $203,000. Nwam LLC purchased a new stake in Phillips 66 in the third quarter valued at $498,000. AlphaCore Capital LLC boosted its stake in Phillips 66 by 10.0% in the third quarter. AlphaCore Capital LLC now owns 4,974 shares of the oil and gas company's stock valued at $654,000 after acquiring an additional 451 shares in the last quarter. Finally, 49 Wealth Management LLC grew its holdings in shares of Phillips 66 by 11.2% during the third quarter. 49 Wealth Management LLC now owns 4,214 shares of the oil and gas company's stock worth $554,000 after purchasing an additional 425 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Morgan Stanley decreased their target price on Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating for the company in a research report on Monday, September 16th. UBS Group lowered their target price on shares of Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company cut their target price on shares of Phillips 66 from $182.00 to $167.00 and set an "overweight" rating on the stock in a report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price target on shares of Phillips 66 from $160.00 to $141.00 and set an "overweight" rating for the company in a research note on Wednesday, October 2nd. Finally, Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a research note on Thursday, October 17th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $149.69.

Phillips 66 Price Performance

PSX traded down $0.94 during trading on Wednesday, reaching $133.31. 2,151,389 shares of the stock were exchanged, compared to its average volume of 2,662,707. Phillips 66 has a 1 year low of $117.74 and a 1 year high of $174.08. The company has a market capitalization of $55.06 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 4.40 and a beta of 1.33. The business's 50 day moving average price is $130.58 and its two-hundred day moving average price is $135.07. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analysts' expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm's revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the company earned $4.63 EPS. As a group, equities research analysts anticipate that Phillips 66 will post 7.57 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently disclosed 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 is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.45%. Phillips 66's dividend payout ratio (DPR) is 59.05%.

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.