Wellington Management Group LLP decreased its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 17.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,060,904 shares of the oil and gas company's stock after selling 1,870,617 shares during the period. Wellington Management Group LLP owned approximately 2.06% of Phillips 66 worth $1,088,668,000 as of its most recent filing with the Securities & Exchange Commission.
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Several other institutional investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN raised its position in Phillips 66 by 0.6% during the 2nd quarter. Wells Fargo & Company MN now owns 17,121,154 shares of the oil and gas company's stock valued at $1,633,016,000 after purchasing an additional 97,198 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Phillips 66 by 100,843.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 9,979,304 shares of the oil and gas company's stock worth $1,038,646,000 after acquiring an additional 9,969,418 shares during the period. Geode Capital Management LLC boosted its stake in shares of Phillips 66 by 0.4% during the 2nd quarter. Geode Capital Management LLC now owns 9,745,974 shares of the oil and gas company's stock worth $927,137,000 after acquiring an additional 34,890 shares in the last quarter. Barclays PLC grew its holdings in shares of Phillips 66 by 4.2% during the third quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company's stock worth $932,447,000 after buying an additional 309,239 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of Phillips 66 by 16.2% in the 4th quarter. Morgan Stanley now owns 6,961,625 shares of the oil and gas company's stock valued at $724,566,000 after buying an additional 968,055 shares during the period. Institutional investors own 71.83% of the company's stock.
Phillips 66 Stock Performance
Shares of PSX opened at $150.34 on Wednesday. The company has a market capitalization of $64.32 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 1.90 and a beta of 1.36. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $151.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The company's 50 day simple moving average is $140.78 and its 200 day simple moving average is $127.25.
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Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings data on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping analysts' consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. On average, sell-side analysts predict that Phillips 66 will post 13.09 EPS for the current year.
Phillips 66 Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 20th were issued a $1.05 dividend. The ex-dividend date was Friday, February 16th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.79%. Phillips 66's dividend payout ratio (DPR) is 27.15%.
Insiders Place Their Bets
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In related news, Director Robert W. Pease bought 682 shares of the stock in a transaction dated Thursday, February 15th. The stock was acquired at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the purchase, the director now owns 1,900 shares in the company, valued at $278,502. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Robert W. Pease acquired 682 shares of the stock in a transaction on Thursday, February 15th. The stock was bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the transaction, the director now directly owns 1,900 shares of the company's stock, valued at $278,502. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the transaction, the executive vice president now owns 24,941 shares of the company's stock, valued at $3,648,120.07. The disclosure for this sale can be found here. Insiders have sold a total of 31,887 shares of company stock worth $4,543,437 over the last quarter. 4.57% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of equities analysts recently commented on PSX shares. TD Cowen raised their target price on Phillips 66 from $134.00 to $150.00 and gave the company an "outperform" rating in a report on Monday, December 4th. Barclays boosted their target price on Phillips 66 from $132.00 to $139.00 and gave the stock an "equal weight" rating in a research note on Monday, February 5th. Wells Fargo & Company upped their target price on shares of Phillips 66 from $151.00 to $163.00 and gave the company an "overweight" rating in a report on Thursday, February 1st. Citigroup assumed coverage on Phillips 66 in a research report on Wednesday, January 24th. They issued a "buy" rating for the company. Finally, Raymond James boosted their price objective on Phillips 66 from $140.00 to $155.00 and gave the company an "outperform" rating in a research note on Thursday, February 1st. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Phillips 66 has a consensus rating of "Moderate Buy" and an average target price of $138.15.
Check Out Our Latest Report on PSX
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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