The Manufacturers Life Insurance Company cut its position in shares of Phillips 66 (NYSE:PSX) by 6.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 550,283 shares of the oil and gas company’s stock after selling 35,457 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.13% of Phillips 66 worth $28,527,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of PSX. Cerebellum GP LLC bought a new position in Phillips 66 during the 2nd quarter worth approximately $80,000. Janney Montgomery Scott LLC grew its position in shares of Phillips 66 by 10.8% in the 2nd quarter. Janney Montgomery Scott LLC now owns 184,888 shares of the oil and gas company’s stock worth $13,293,000 after buying an additional 17,966 shares during the last quarter. Wright Investors Service Inc. bought a new stake in shares of Phillips 66 in the 2nd quarter worth approximately $263,000. Allworth Financial LP grew its position in shares of Phillips 66 by 142.3% in the 2nd quarter. Allworth Financial LP now owns 3,094 shares of the oil and gas company’s stock worth $222,000 after buying an additional 1,817 shares during the last quarter. Finally, Gulf International Bank UK Ltd grew its position in shares of Phillips 66 by 0.9% in the 2nd quarter. Gulf International Bank UK Ltd now owns 108,822 shares of the oil and gas company’s stock worth $7,824,000 after buying an additional 1,010 shares during the last quarter. Institutional investors and hedge funds own 65.91% of the company’s stock.
A number of research analysts have recently commented on the company. Wolfe Research upgraded Phillips 66 from a “market perform” rating to an “outperform” rating and set a $63.00 target price for the company in a research note on Thursday, November 5th. Cowen lowered their target price on Phillips 66 from $69.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, November 2nd. Morgan Stanley lowered their target price on Phillips 66 from $82.00 to $63.00 and set an “overweight” rating for the company in a research note on Monday, October 19th. Mizuho lowered their price objective on Phillips 66 from $92.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, October 22nd. Finally, JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Friday, September 11th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $70.18.
Phillips 66 stock opened at $61.59 on Friday. The firm has a market cap of $26.90 billion, a price-to-earnings ratio of -22.23, a PEG ratio of 34.44 and a beta of 1.53. The stock has a fifty day simple moving average of $51.86 and a two-hundred day simple moving average of $63.21. Phillips 66 has a 12 month low of $40.04 and a 12 month high of $118.92. The company has a current ratio of 1.25, a quick ratio of 0.73 and a debt-to-equity ratio of 0.54.
Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, November 4th. The oil and gas company reported ($0.01) EPS for the quarter, topping the Zacks’ 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 last year, the business posted $3.11 earnings per share. On average, equities research analysts forecast that Phillips 66 will post -0.18 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Tuesday, November 17th will be issued a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 5.85%. The ex-dividend date is Monday, November 16th. Phillips 66’s payout ratio is 44.72%.
About Phillips 66
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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