Fmr LLC Reduces Stock Position in Phillips 66 (NYSE:PSX)

Fmr LLC decreased its position in shares of Phillips 66 (NYSE:PSX) by 42.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,207,135 shares of the oil and gas company’s stock after selling 2,403,523 shares during the quarter. Fmr LLC owned 0.78% of Phillips 66 worth $421,578,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Cetera Investment Advisers boosted its position in shares of Phillips 66 by 318.9% in the 1st 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 in the last quarter. Cetera Advisors LLC increased its stake in shares of Phillips 66 by 42.9% during the 1st quarter. Cetera Advisors LLC now owns 45,928 shares of the oil and gas company’s stock worth $7,502,000 after purchasing an additional 13,777 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Phillips 66 by 1.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 203,702 shares of the oil and gas company’s stock worth $32,345,000 after purchasing an additional 2,110 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Phillips 66 by 2.2% in the 1st quarter. EverSource Wealth Advisors LLC now owns 4,811 shares of the oil and gas company’s stock valued at $786,000 after buying an additional 104 shares in the last quarter. Finally, Old Port Advisors acquired a new stake in Phillips 66 during the 1st quarter valued at $248,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Wells Fargo & Company reduced their price objective on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Scotiabank lowered 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 report on Thursday, October 10th. Morgan Stanley reduced their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research note on Monday, September 16th. TD Cowen lowered their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Barclays reduced their price target on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating on the stock in a research note on Monday, November 11th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Stock Up 0.5 %

Shares of NYSE:PSX opened at $134.02 on Friday. The stock has a market capitalization of $55.35 billion, a P/E ratio of 17.20, a PEG ratio of 4.35 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 1 year low of $119.77 and a 1 year high of $174.08. The stock has a 50-day simple moving average of $130.68 and a 200-day simple moving average of $134.99.

Phillips 66 (NYSE:PSX) last issued its earnings results 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. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the firm posted $4.63 EPS. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. Equities analysts forecast that Phillips 66 will post 7.66 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.43%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s payout ratio is 59.05%.

About Phillips 66

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.