M&G PLC Sells 9,049 Shares of Phillips 66 $PSX

M&G PLC decreased its position in Phillips 66 (NYSE:PSX) by 40.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,103 shares of the oil and gas company’s stock after selling 9,049 shares during the period. M&G PLC’s holdings in Phillips 66 were worth $1,559,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PSX. Elliott Investment Management L.P. boosted its stake in Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after buying an additional 14,950,000 shares in the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Phillips 66 by 9,530.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,446,469 shares of the oil and gas company’s stock valued at $172,564,000 after buying an additional 1,431,450 shares in the last quarter. Nuveen LLC bought a new position in shares of Phillips 66 during the 1st quarter worth about $156,482,000. Price T Rowe Associates Inc. MD boosted its position in shares of Phillips 66 by 11.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock valued at $828,442,000 after acquiring an additional 682,459 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Phillips 66 by 15.9% during the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock valued at $588,489,000 after acquiring an additional 653,248 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE:PSX opened at $139.53 on Friday. The business has a fifty day moving average of $133.75 and a 200-day moving average of $125.65. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $142.93. The firm has a market cap of $56.22 billion, a PE ratio of 38.12, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The business had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. During the same quarter in the prior year, the company earned $2.04 EPS. On average, equities research analysts predict that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a $1.20 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.4%. Phillips 66’s dividend payout ratio (DPR) is currently 131.15%.

Analysts Set New Price Targets

PSX has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. Morgan Stanley increased their target price on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, October 3rd. Bank of America lowered Phillips 66 from a “buy” rating to a “neutral” rating and boosted their price target for the company from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Finally, Raymond James Financial reissued an “outperform” rating and set a $150.00 price objective (up from $145.00) on shares of Phillips 66 in a report on Friday, October 17th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Hold” and a consensus target price of $143.56.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the company’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $140.00, for a total transaction of $615,020.00. Following the transaction, the executive vice president owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This represents a 11.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $138.00, for a total value of $4,140,000.00. Following the completion of the transaction, the chief financial officer owned 89,771 shares in the company, valued at $12,388,398. The trade was a 25.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 38,786 shares of company stock valued at $5,348,075 in the last 90 days. 0.22% of the stock is currently owned by corporate insiders.

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.