Sheaff Brock Investment Advisors LLC Sells 136 Shares of Phillips 66 (NYSE:PSX)

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 & Exchange Commission. The firm owned 4,163 shares of the oil and gas company’s stock after selling 136 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Phillips 66 were worth $547,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Van ECK Associates Corp raised its holdings in Phillips 66 by 263.3% during 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 acquiring an additional 60,355 shares during the period. Manning & Napier Advisors LLC bought a new stake in Phillips 66 during the second quarter valued at about $17,670,000. M&G Plc purchased a new position in shares of Phillips 66 during the second quarter valued at about $3,596,000. Cetera Investment Advisers grew its position in shares of Phillips 66 by 318.9% during 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 in the last quarter. Finally, Olympiad Research LP purchased a new position in shares of Phillips 66 during the third quarter valued at about $607,000. 76.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. UBS Group cut their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating for the company in a research report on Monday, November 4th. TD Cowen cut their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Barclays dropped their price target on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a research report on Monday, November 11th. Mizuho dropped their price target on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research report on Monday, September 16th. Finally, Bank of America initiated coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $149.69.

Phillips 66 Stock Performance

Phillips 66 stock opened at $130.91 on Friday. The company has a 50 day moving average price of $129.75 and a 200-day moving average price of $135.81. 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 fifty-two week low of $111.90 and a fifty-two week high of $174.08. The company has a market capitalization of $54.06 billion, a PE ratio of 16.80, a P/E/G ratio of 4.26 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results 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 the consensus estimate of $36.31 billion. During the same quarter in the previous year, the firm posted $4.63 earnings per share. The company’s revenue was down 10.3% on a year-over-year basis. As a group, equities analysts forecast that Phillips 66 will post 7.63 earnings per share for the current year.

Phillips 66 Announces Dividend

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

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.