Cetera Investment Advisers Buys 20,322 Shares of Phillips 66 $PSX

Cetera Investment Advisers raised its stake in Phillips 66 (NYSE:PSX) by 8.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 258,194 shares of the oil and gas company’s stock after purchasing an additional 20,322 shares during the quarter. Cetera Investment Advisers owned 0.06% of Phillips 66 worth $47,038,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of PSX. Norges Bank purchased a new stake in Phillips 66 in the 4th quarter valued at $640,206,000. M&T Bank Corp boosted its holdings in 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 during the last quarter. AQR Capital Management LLC boosted its holdings in Phillips 66 by 424.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock worth $257,512,000 after acquiring an additional 1,532,389 shares during the last quarter. Worldquant Millennium Advisors LLC purchased a new position in Phillips 66 during the 2nd quarter worth $107,967,000. Finally, NewEdge Advisors LLC grew its stake in shares of Phillips 66 by 732.0% in the 4th quarter. NewEdge Advisors LLC now owns 996,955 shares of the oil and gas company’s stock worth $128,647,000 after acquiring an additional 877,131 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In other news, CFO Kevin J. Mitchell sold 29,400 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the completion of the sale, the chief financial officer owned 97,376 shares in the company, valued at $16,553,920. This trade represents a 23.19% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kevin Omar Meyers purchased 175 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was bought at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the acquisition, the director directly owned 16,799 shares in the company, valued at $2,908,242.88. This trade represents a 1.05% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold a total of 41,021 shares of company stock valued at $7,195,257 over the last three months. Insiders own 0.40% of the company’s stock.

Phillips 66 Trading Down 0.0%

NYSE PSX opened at $206.94 on Friday. The stock has a market capitalization of $82.97 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 0.17 and a beta of 0.69. Phillips 66 has a one year low of $118.07 and a one year high of $216.08. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The business’s fifty day moving average is $182.54 and its 200-day moving average is $168.28.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The company had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.90) EPS. Equities research analysts predict that Phillips 66 will post 22.43 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s payout ratio is presently 50.05%.

Analyst Ratings Changes

Several analysts have recently commented on PSX shares. TD Cowen increased their target price on shares of Phillips 66 from $220.00 to $240.00 and gave the company a “buy” rating in a report on Tuesday. Piper Sandler reaffirmed a “neutral” rating and issued a $208.00 price objective on shares of Phillips 66 in a research report on Thursday. Citigroup increased their price objective on shares of Phillips 66 from $183.00 to $204.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Barclays lifted their target price on shares of Phillips 66 from $177.00 to $183.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 9th. Finally, Weiss Ratings downgraded Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $200.44.

Phillips 66 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.