Cerity Partners LLC Has $8.08 Million Stock Position in Phillips 66 (NYSE:PSX)

Cerity Partners LLC boosted its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 4.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,582 shares of the oil and gas company's stock after purchasing an additional 2,752 shares during the period. Cerity Partners LLC's holdings in Phillips 66 were worth $8,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Aster Capital Management DIFC Ltd acquired a new stake in Phillips 66 in the 4th quarter valued at about $1,669,000. Russell Investments Group Ltd. lifted its stake in Phillips 66 by 9.1% in the fourth quarter. Russell Investments Group Ltd. now owns 377,406 shares of the oil and gas company's stock worth $42,955,000 after acquiring an additional 31,441 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new position in Phillips 66 in the fourth quarter valued at $15,203,000. Smith Moore & CO. raised its position in shares of Phillips 66 by 0.9% during the 4th quarter. Smith Moore & CO. now owns 10,732 shares of the oil and gas company's stock worth $1,223,000 after acquiring an additional 91 shares in the last quarter. Finally, Thoroughbred Financial Services LLC lifted its position in shares of Phillips 66 by 6.3% during the 4th quarter. Thoroughbred Financial Services LLC now owns 11,029 shares of the oil and gas company's stock worth $1,256,000 after buying an additional 655 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of Phillips 66 stock traded up $3.54 on Thursday, reaching $100.11. 585,814 shares of the company were exchanged, compared to its average volume of 2,880,107. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $159.86. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The company's 50-day moving average is $119.48 and its two-hundred day moving average is $122.90. The firm has a market cap of $40.79 billion, a price-to-earnings ratio of 20.22, a P/E/G ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate 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 last year, the firm earned $3.09 earnings per share. As a group, research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a $1.15 dividend. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 4.60%. Phillips 66's dividend payout ratio (DPR) is presently 93.12%.

Analysts Set New Price Targets

Several brokerages have weighed in on PSX. Piper Sandler downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. Wells Fargo & Company upped their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price objective for the company. in a research report on Thursday, March 27th. Barclays decreased their price objective on Phillips 66 from $135.00 to $106.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Finally, Scotiabank dropped their price target on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research report on Friday, April 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $142.00.

Phillips 66 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.