Phillips 66 (NYSE:PSX) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers trimmed its stake in shares of Phillips 66 (NYSE:PSX) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 126,646 shares of the oil and gas company’s stock after selling 4,239 shares during the period. Cetera Investment Advisers’ holdings in Phillips 66 were worth $14,429,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp boosted its position in Phillips 66 by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after purchasing an additional 639,323 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Phillips 66 by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock worth $968,844,000 after buying an additional 82,758 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in Phillips 66 by 283.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock valued at $686,618,000 after acquiring an additional 4,455,220 shares during the last quarter. Northern Trust Corp increased its holdings in Phillips 66 by 10.6% during the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company’s stock valued at $522,834,000 after acquiring an additional 440,107 shares in the last quarter. Finally, Norges Bank acquired a new position in Phillips 66 during the fourth quarter worth about $497,648,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of PSX stock opened at $110.86 on Friday. 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 firm has a market capitalization of $45.17 billion, a price-to-earnings ratio of 22.44, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. Phillips 66 has a one year low of $91.01 and a one year high of $150.12. The company has a 50 day moving average price of $111.61 and a 200 day moving average price of $119.37.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The firm had revenue of $31.92 billion for the quarter, compared to analyst estimates of $31.93 billion. During the same quarter in the previous year, the company earned $1.90 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a dividend of $1.20 per share. The ex-dividend date is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.33%. This is a boost from Phillips 66’s previous quarterly dividend of $1.15. Phillips 66’s payout ratio is presently 109.34%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PSX. Piper Sandler lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Barclays dropped their price target on Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. JPMorgan Chase & Co. reduced their price objective on Phillips 66 from $138.00 to $131.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 29th. Mizuho dropped their price objective on Phillips 66 from $140.00 to $132.00 and set a “neutral” rating for the company in a research report on Wednesday, April 9th. Finally, Scotiabank cut their target price on shares of Phillips 66 from $136.00 to $133.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Six equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.36.

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.