Fifth Third Wealth Advisors LLC Sells 1,148 Shares of Phillips 66 (NYSE:PSX)

Fifth Third Wealth Advisors LLC lessened its position in Phillips 66 (NYSE:PSX) by 17.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,249 shares of the oil and gas company’s stock after selling 1,148 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Phillips 66 were worth $690,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Crewe Advisors LLC bought a new position in Phillips 66 during the first quarter worth about $25,000. Strategic Financial Concepts LLC acquired a new stake in shares of Phillips 66 in the second quarter valued at approximately $26,000. nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the third quarter valued at approximately $26,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 during the 3rd quarter worth approximately $30,000. Finally, Bank & Trust Co acquired a new position in shares of Phillips 66 during the 2nd quarter worth approximately $31,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PSX has been the subject of a number of research analyst reports. Wells Fargo & Company reduced 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. Barclays reduced their target price on shares of Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. JPMorgan Chase & Co. lowered their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a report on Wednesday, October 2nd. Mizuho cut their price objective 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. Finally, Scotiabank decreased their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $149.69.

Phillips 66 Price Performance

Phillips 66 stock opened at $131.41 on Thursday. The firm has a market cap of $54.27 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 4.29 and a beta of 1.33. 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’s fifty day moving average price is $130.03 and its two-hundred day moving average price is $135.52. Phillips 66 has a one year low of $114.94 and a one year high of $174.08.

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

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.50%. 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.