Phillips 66 $PSX Stock Holdings Boosted by Cerity Partners LLC

Cerity Partners LLC raised its position in shares of Phillips 66 (NYSE:PSX) by 207.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 356,866 shares of the oil and gas company’s stock after purchasing an additional 240,844 shares during the quarter. Cerity Partners LLC owned about 0.09% of Phillips 66 worth $46,051,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Phillips 66 by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock valued at $6,701,052,000 after purchasing an additional 205,480 shares in the last quarter. Geode Capital Management LLC boosted its stake in Phillips 66 by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock valued at $1,338,596,000 after purchasing an additional 45,340 shares in the last quarter. Norges Bank bought a new position in Phillips 66 during the 4th quarter valued at $640,206,000. M&T Bank Corp boosted its stake in shares of Phillips 66 by 462.9% during the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock worth $352,007,000 after acquiring an additional 2,243,268 shares in the last quarter. Finally, Amundi boosted its stake in shares of Phillips 66 by 2.8% during the 3rd quarter. Amundi now owns 2,400,180 shares of the oil and gas company’s stock worth $319,123,000 after acquiring an additional 65,568 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Jefferies Financial Group raised their price objective on Phillips 66 from $173.00 to $191.00 and gave the stock a “hold” rating in a research note on Tuesday, May 26th. TD Cowen raised their price objective on Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a research note on Wednesday, April 1st. Guggenheim raised Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. Citigroup raised their price objective on Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a research note on Thursday, April 9th. Finally, The Goldman Sachs Group raised their price objective on Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 19th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.44.

Phillips 66 Stock Performance

PSX opened at $181.78 on Thursday. The firm has a market cap of $72.88 billion, a PE ratio of 17.91, a P/E/G ratio of 0.26 and a beta of 0.68. The business has a fifty day simple moving average of $172.49 and a 200-day simple moving average of $157.28. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. Phillips 66 has a fifty-two week low of $118.00 and a fifty-two week high of $190.61.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.54) by $1.03. The business had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.Phillips 66’s revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.90) earnings per share. As a group, equities analysts predict that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were given a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 2.8%. The ex-dividend date of this dividend was Monday, May 18th. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers bought 175 shares of the firm’s stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the transaction, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Lisa Ann Davis sold 3,800 shares of the firm’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the completion of the sale, the director directly owned 8,701 shares of the company’s stock, valued at approximately $1,517,193.37. This trade represents a 30.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 49,429 shares of company stock valued at $8,734,146 over the last quarter. Company insiders own 0.40% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.