The Manufacturers Life Insurance Company reduced its position in Phillips 66 (NYSE:PSX) by 6.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 550,283 shares of the oil and gas company’s stock after selling 35,457 shares during the period. The Manufacturers Life Insurance Company owned 0.13% of Phillips 66 worth $28,527,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Bank of Montreal Can raised its position in Phillips 66 by 145.7% during the second quarter. Bank of Montreal Can now owns 1,892,401 shares of the oil and gas company’s stock valued at $111,614,000 after purchasing an additional 1,122,225 shares during the period. BlackRock Inc. raised its position in Phillips 66 by 3.5% during the third quarter. BlackRock Inc. now owns 30,418,422 shares of the oil and gas company’s stock valued at $1,576,891,000 after purchasing an additional 1,019,044 shares during the period. Ceredex Value Advisors LLC purchased a new stake in Phillips 66 during the third quarter valued at approximately $50,622,000. Neuberger Berman Group LLC raised its position in Phillips 66 by 80.7% during the second quarter. Neuberger Berman Group LLC now owns 1,600,283 shares of the oil and gas company’s stock valued at $115,042,000 after purchasing an additional 714,717 shares during the period. Finally, Nuveen Asset Management LLC raised its position in Phillips 66 by 19.3% during the second quarter. Nuveen Asset Management LLC now owns 4,216,037 shares of the oil and gas company’s stock valued at $303,133,000 after purchasing an additional 682,256 shares during the period. Institutional investors own 65.91% of the company’s stock.
A number of brokerages have issued reports on PSX. Bank of America restated a “buy” rating and set a $100.00 price objective on shares of Phillips 66 in a research report on Monday, August 3rd. Cowen decreased their price objective on Phillips 66 from $69.00 to $62.00 and set an “outperform” rating on the stock in a research report on Monday, November 2nd. Wolfe Research raised Phillips 66 from a “market perform” rating to an “outperform” rating and set a $63.00 target price on the stock in a research note on Thursday, November 5th. Raymond James upped their target price on Phillips 66 from $60.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Barclays cut their target price on Phillips 66 from $73.00 to $64.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 6th. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $70.18.
Shares of NYSE:PSX opened at $61.59 on Friday. Phillips 66 has a 52-week low of $40.04 and a 52-week high of $118.92. The stock has a market cap of $26.90 billion, a P/E ratio of -22.23, a price-to-earnings-growth ratio of 34.44 and a beta of 1.53. The business’s 50 day moving average is $51.86 and its 200 day moving average is $63.21. The company has a quick ratio of 0.73, a current ratio of 1.25 and a debt-to-equity ratio of 0.54.
Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, November 4th. The oil and gas company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.80) by $0.79. Phillips 66 had a positive return on equity of 8.76% and a negative net margin of 1.32%. During the same period in the previous year, the company earned $3.11 EPS. On average, sell-side analysts anticipate that Phillips 66 will post -0.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Tuesday, November 17th will be paid a $0.90 dividend. The ex-dividend date is Monday, November 16th. This represents a $3.60 dividend on an annualized basis and a yield of 5.85%. Phillips 66’s dividend payout ratio (DPR) is 44.72%.
Phillips 66 Company Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.
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