Cerity Partners LLC Has $8.65 Million Stock Position in Phillips 66 (NYSE:PSX)

Cerity Partners LLC lifted its stake in shares of Phillips 66 (NYSE:PSX) by 8.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 65,830 shares of the oil and gas company’s stock after purchasing 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.

Other large investors also recently modified their holdings of the company. Mitchell & Pahl Private Wealth LLC increased its holdings in Phillips 66 by 0.4% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after purchasing an additional 74 shares in the last quarter. Catalyst Financial Partners LLC increased its stake in shares of Phillips 66 by 5.1% in the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock valued at $214,000 after buying an additional 74 shares during the period. Advisory Alpha LLC raised its holdings in Phillips 66 by 4.8% in the 2nd quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock valued at $233,000 after buying an additional 76 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC raised its holdings in Phillips 66 by 1.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock valued at $616,000 after buying an additional 77 shares during the last quarter. Finally, Krane Funds Advisors LLC boosted its position in Phillips 66 by 3.6% during the 3rd quarter. Krane Funds Advisors LLC now owns 2,350 shares of the oil and gas company’s stock worth $309,000 after buying an additional 82 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PSX shares. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a research note on Thursday, October 17th. Wells Fargo & Company decreased their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. TD Cowen cut their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. JPMorgan Chase & Co. dropped their target price on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Finally, UBS Group reduced their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Stock Performance

Shares of PSX opened at $134.25 on Wednesday. The stock has a 50 day moving average price of $130.52 and a two-hundred day moving average price of $135.09. Phillips 66 has a 52 week low of $117.32 and a 52 week high of $174.08. The firm has a market capitalization of $55.44 billion, a P/E ratio of 17.23, a P/E/G ratio of 4.40 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 (NYSE:PSX) last posted its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion during the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the prior year, the business posted $4.63 EPS. The business’s revenue was down 10.3% compared to the same quarter last year. Equities analysts forecast that Phillips 66 will post 7.57 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

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.