Mercer Global Advisors Inc. ADV Decreases Stake in Phillips 66 (NYSE:PSX)

Mercer Global Advisors Inc. ADV reduced its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 22.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,491 shares of the oil and gas company's stock after selling 25,863 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Phillips 66 were worth $10,082,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in Phillips 66 by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company's stock worth $1,064,601,000 after purchasing an additional 639,323 shares in the last quarter. Geode Capital Management LLC lifted its position in Phillips 66 by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock worth $968,844,000 after buying an additional 82,758 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock worth $686,618,000 after buying an additional 4,455,220 shares during the last quarter. Northern Trust Corp grew its holdings in Phillips 66 by 10.6% in the 4th quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock valued at $522,834,000 after buying an additional 440,107 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Phillips 66 in the 4th quarter worth $497,648,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Trading Up 0.2 %

Phillips 66 stock traded up $0.25 during midday trading on Wednesday, reaching $105.64. 1,747,993 shares of the stock traded hands, compared to its average volume of 2,892,007. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a market cap of $43.04 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01. The company has a 50-day simple moving average of $112.64 and a two-hundred day simple moving average of $119.77. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The business had revenue of $31.92 billion during the quarter, compared to analysts' expectations of $31.93 billion. During the same period in the previous year, the business posted $1.90 EPS. Research analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $1.20 dividend. This is a boost from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Monday, May 19th. Phillips 66's dividend payout ratio (DPR) is presently 109.34%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PSX shares. UBS Group dropped their price objective on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a report on Monday, April 28th. Scotiabank dropped their price target on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Mizuho reduced their price target on shares of Phillips 66 from $140.00 to $132.00 and set a "neutral" rating on the stock in a research report on Wednesday, April 9th. TD Cowen lowered their price objective on Phillips 66 from $127.00 to $114.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Finally, Raymond James decreased their price target on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of "Moderate Buy" and an average price target of $136.36.

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.