Phillips 66 (NYSE:PSX) Shares Sold by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC cut its holdings in shares of Phillips 66 (NYSE:PSX) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,163 shares of the oil and gas company’s stock after selling 136 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Phillips 66 were worth $547,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PSX. Van ECK Associates Corp boosted its holdings in Phillips 66 by 263.3% in the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock valued at $10,753,000 after purchasing an additional 60,355 shares during the last quarter. Manning & Napier Advisors LLC purchased a new stake in Phillips 66 in the second quarter valued at $17,670,000. M&G Plc purchased a new stake in Phillips 66 in the second quarter valued at $3,596,000. Cetera Investment Advisers boosted its holdings in Phillips 66 by 318.9% in the first quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company’s stock valued at $23,284,000 after purchasing an additional 108,515 shares during the last quarter. Finally, Olympiad Research LP purchased a new stake in Phillips 66 in the third quarter valued at $607,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Phillips 66 stock opened at $130.91 on Friday. The firm has a 50 day simple moving average of $129.75 and a 200-day simple moving average of $135.81. Phillips 66 has a 1-year low of $111.90 and a 1-year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock has a market cap of $54.06 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 4.26 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. During the same quarter last year, the company posted $4.63 EPS. On average, analysts expect that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.51%. Phillips 66’s payout ratio is currently 59.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Bank of America assumed coverage on shares of Phillips 66 in a report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target on the stock. Scotiabank decreased their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. UBS Group decreased their price objective on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. JPMorgan Chase & Co. reduced their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research report on Wednesday, October 2nd. Finally, Mizuho reduced their price target on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Company 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.