OneDigital Investment Advisors LLC Reduces Stock Position in Phillips 66 (NYSE:PSX)

OneDigital Investment Advisors LLC trimmed its position in shares of Phillips 66 (NYSE:PSX) by 7.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 30,826 shares of the oil and gas company’s stock after selling 2,593 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Phillips 66 were worth $4,052,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Boston Partners grew its position in shares of Phillips 66 by 41.4% in the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares during the last quarter. Vanguard Group Inc. increased its position in Phillips 66 by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after purchasing an additional 1,578,669 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Phillips 66 by 96.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock worth $467,743,000 after purchasing an additional 1,408,954 shares in the last quarter. ING Groep NV lifted its position in shares of Phillips 66 by 123.2% in the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company’s stock worth $155,503,000 after purchasing an additional 653,032 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Phillips 66 by 5.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after purchasing an additional 402,925 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the company. Morgan Stanley cut their price objective on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Piper Sandler set a $144.00 price objective on Phillips 66 in a report on Thursday, October 17th. Mizuho dropped their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Wells Fargo & Company decreased their price target on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Finally, 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 objective on the stock. Five equities 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Price Performance

NYSE PSX opened at $130.91 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The company has a market capitalization of $54.06 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 4.26 and a beta of 1.33. The stock has a 50-day moving average of $129.70 and a 200 day moving average of $135.96. Phillips 66 has a one year low of $111.90 and a one year high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating 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 analysts’ expectations of $36.31 billion. During the same period in the previous year, the company earned $4.63 earnings per share. The firm’s quarterly revenue was down 10.3% on a year-over-year basis. On average, sell-side analysts forecast that Phillips 66 will post 7.63 EPS for the current year.

Phillips 66 Announces Dividend

The company 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. This represents a $4.60 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 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.