Vanguard Group Inc. cut its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 3.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,128,511 shares of the oil and gas company's stock after selling 1,220,899 shares during the period. Vanguard Group Inc. owned approximately 9.12% of Phillips 66 worth $4,821,441,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. Bornite Capital Management LP acquired a new position in shares of Phillips 66 in the first quarter valued at approximately $8,639,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Phillips 66 by 316.2% during the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company's stock worth $570,000 after acquiring an additional 5,012 shares in the last quarter. Synovus Financial Corp grew its holdings in Phillips 66 by 5.1% during the 1st quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company's stock worth $1,405,000 after acquiring an additional 788 shares in the last quarter. Cibc World Market Inc. grew its holdings in Phillips 66 by 61.9% during the 1st quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company's stock worth $625,000 after acquiring an additional 2,766 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in Phillips 66 by 103.8% during the 1st quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company's stock worth $4,625,000 after acquiring an additional 27,267 shares in the last quarter. 71.83% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
PSX has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $151.00 to $163.00 and gave the stock an "overweight" rating in a research report on Thursday, February 1st. TD Cowen boosted their price objective on shares of Phillips 66 from $134.00 to $150.00 and gave the stock an "outperform" rating in a research report on Monday, December 4th. StockNews.com upgraded shares of Phillips 66 from a "hold" rating to a "buy" rating in a research report on Saturday, February 10th. Citigroup assumed coverage on shares of Phillips 66 in a research report on Wednesday, January 24th. They issued a "buy" rating for the company. Finally, Raymond James upped their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the company an "outperform" rating in a research report on Thursday, February 1st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $138.15.
Get Our Latest Stock Analysis on Phillips 66
Insiders Place Their Bets
In related news, VP Joseph Scott Pruitt sold 1,000 shares of Phillips 66 stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $133.23, for a total transaction of $133,230.00. Following the transaction, the vice president now directly owns 6,593 shares of the company's stock, valued at $878,385.39. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Phillips 66 news, Director Robert W. Pease bought 682 shares of the company's stock in a transaction dated Thursday, February 15th. The shares were bought at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the acquisition, the director now directly owns 1,900 shares of the company's stock, valued at $278,502. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph Scott Pruitt sold 1,000 shares of the company's stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $133.23, for a total value of $133,230.00. Following the completion of the transaction, the vice president now owns 6,593 shares in the company, valued at approximately $878,385.39. The disclosure for this sale can be found here. Insiders sold a total of 31,887 shares of company stock valued at $4,543,437 over the last 90 days. 4.57% of the stock is owned by company insiders.
Phillips 66 Trading Down 0.1 %
NYSE PSX traded down $0.09 during mid-day trading on Thursday, hitting $154.38. The company's stock had a trading volume of 3,636,678 shares, compared to its average volume of 3,120,749. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $156.85. The stock's fifty day simple moving average is $141.54 and its two-hundred day simple moving average is $127.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. The firm has a market capitalization of $66.05 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 1.90 and a beta of 1.36.
Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. Research analysts expect that Phillips 66 will post 13.09 EPS for the current year.
Phillips 66 Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Tuesday, February 20th were issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Friday, February 16th. Phillips 66's dividend payout ratio is presently 27.15%.
Phillips 66 Profile
(Free Report)
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.
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