MetLife Investment Management LLC cut its position in shares of Phillips 66 (NYSE: PSX – Get Rating) by 10.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 96,809 shares of the oil and gas company stock after selling 10,827 shares during the quarter. MetLife Investment Management LLC’s holdings in Phillips 66 were worth $ 7,015,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in PSX. FIL Ltd increased its stake in Phillips 66 by 61.1% during the third quarter. FIL Ltd now owns 43,530 shares of the oil and gas company stock worth $ 3,049,000 after acquiring an additional 16,512 shares during the last quarter. Invesco Ltd. increased its stake in Phillips 66 by 9.3% during the third quarter. Invesco Ltd. now owns 3,286,147 shares of the oil and gas company stock worth $ 230,130,000 after acquiring an additional 278,290 shares during the last quarter. Morgan Stanley increased its stake in Phillips 66 by 13.0% during the third quarter. Morgan Stanley now owns 3,877,915 shares of the oil and gas company stock worth $ 271,571,000 after acquiring an additional 446,011 shares during the last quarter. Gotham Asset Management LLC acquired a new stake in Phillips 66 during the third quarter worth about $ 263,000. Finally, Marshall Wace LLP increased its stake in Phillips 66 by 1,233.0% during the third quarter. Marshall Wace LLP now owns 114,488 shares of oil and gas company stock worth $ 8,018,000 after acquiring an additional 105,899 shares during the last quarter. Institutional investors own 64.28% of the company stock.
In other news, EVP Timothy D. Roberts sold 59,100 shares of the stock in a transaction that occurred on Wednesday, June 8th. The stock was sold at an average price of $ 110.21, for a total transaction of $ 6,513,411.00. Following the sale, the executive vice president now directly owns 48,201 shares in the company, valued at approximately $ 5,312,232.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Paula Ann Johnson sold 44,700 shares of the stock in a transaction that occurred on Tuesday, June 7th. The stock was sold at an average price of $ 108.91, for a total value of $ 4,868,277.00. Following the sale, the vice president now owns 102,489 shares in the company, valued at $ 11,162,076.99. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 151,000 shares of company stock worth $ 16,234,792. 0.74% of the stock is currently owned by company insiders.
NYSE: PSX opened at $ 106.31 on Monday. The company has a quick ratio of 0.87, a current ratio of 1.13 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $ 92.83 and its two-hundred day moving average is $ 84.86. Phillips 66 has a 52 week low of $ 63.19 and a 52 week high of $ 111.28. The company has a market cap of $ 51.15 billion, a PE ratio of 18.52, a P / E / G ratio of 0.75 and a beta of 1.39.
Phillips 66 (NYSE: PSX – Get Rating) last released its earnings results on Friday, April 29th. The oil and gas company reported $ 1.32 EPS for the quarter, topping analysts’ consensus estimates of $ 1.14 by $ 0.18. Phillips 66 had a return on equity of 17.07% and a net margin of 1.97%. The company had revenue of $ 36.72 billion for the quarter, compared to the estimate consensus of $ 34.86 billion. During the same quarter last year, the business posted ($ 1.16) EPS. As a group, sell-side analysts expect that Phillips 66 will post 12.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, June 1st. Shareholders of record on Monday, May 23rd were issued a dividend of $ 0.97 per share. This represents a $ 3.88 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Friday, May 20th. This is an increase from Phillips 66’s previous quarterly dividend of $ 0.92. Phillips 66’s dividend payout ratio (DPR) is currently 67.60%.
Several equities research analysts have recently weighed in on the company. Piper Sandler upped their target price on Phillips 66 from $ 119.00 to $ 120.00 and gave the stock an “overweight” rating in a research report on Monday, May 23rd. Wells Fargo & Company upped their target price on Phillips 66 from $ 103.00 to $ 114.00 in a research report on Monday, May 2nd. TheStreet raised Phillips 66 from a “c +” rating to a “b” rating in a research report on Wednesday, February 23rd. Credit Suisse Group upped their target price on Phillips 66 to $ 122.00 in a research report on Thursday. Finally, Citigroup initiated coverage on Phillips 66 in a research report on Tuesday, April 26th. They issued a “neutral” rating and a $ 89.00 target price for the company. Three equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $ 101.57.
Phillips 66 Company Profile: (Get Rating)
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 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.
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