AMP Capital Investors Ltd lowered its stake in Phillips 66 (NYSE:PSX) by 12.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 136,467 shares of the oil and gas company’s stock after selling 20,220 shares during the period. AMP Capital Investors Ltd’s holdings in Phillips 66 were worth $13,804,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in PSX. Vaughan David Investments Inc. IL boosted its holdings in Phillips 66 by 5,820.5% in the third quarter. Vaughan David Investments Inc. IL now owns 468,782 shares of the oil and gas company’s stock valued at $21,395,000 after acquiring an additional 460,864 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Phillips 66 by 6.6% in the third quarter. Bank of New York Mellon Corp now owns 6,838,096 shares of the oil and gas company’s stock valued at $626,438,000 after acquiring an additional 422,652 shares in the last quarter. Mackenzie Financial Corp bought a new stake in Phillips 66 in the fourth quarter valued at $37,580,000. Acadian Asset Management LLC lifted its position in Phillips 66 by 94.5% during the fourth quarter. Acadian Asset Management LLC now owns 668,397 shares of the oil and gas company’s stock valued at $67,606,000 after buying an additional 324,680 shares during the period. Finally, Eaton Vance Management lifted its position in Phillips 66 by 19.4% during the fourth quarter. Eaton Vance Management now owns 1,980,794 shares of the oil and gas company’s stock valued at $200,357,000 after buying an additional 321,404 shares during the period. Institutional investors and hedge funds own 77.87% of the company’s stock.
Phillips 66 (NYSE PSX) opened at $94.99 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.09. The stock has a market capitalization of $47,610.00, a PE ratio of 20.69, a PEG ratio of 1.56 and a beta of 1.18. Phillips 66 has a 52-week low of $75.14 and a 52-week high of $107.47.
The business also recently declared a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Tuesday, February 20th were given a $0.70 dividend. This represents a $2.80 annualized dividend and a dividend yield of 2.95%. The ex-dividend date was Friday, February 16th. Phillips 66’s dividend payout ratio is presently 61.00%.
PSX has been the subject of several recent research reports. Barclays lowered Phillips 66 from an “equal weight” rating to an “underweight” rating and raised their price objective for the company from $95.00 to $100.00 in a research report on Tuesday, November 14th. Cowen reissued an “outperform” rating and set a $137.00 price objective (up previously from $125.00) on shares of Phillips 66 in a research report on Wednesday, February 14th. Goldman Sachs Group raised Phillips 66 to a “buy” rating in a research report on Monday, December 18th. Citigroup lowered their price objective on Phillips 66 from $110.00 to $103.00 and set a “neutral” rating for the company in a research report on Tuesday, February 6th. Finally, Credit Suisse Group initiated coverage on Phillips 66 in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $108.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $104.02.
In other news, VP Chukwuemeka A. Oyolu sold 2,700 shares of Phillips 66 stock in a transaction dated Friday, December 15th. The stock was sold at an average price of $100.25, for a total value of $270,675.00. Following the completion of the transaction, the vice president now owns 2,700 shares of the company’s stock, valued at approximately $270,675. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.50% of the stock is owned by insiders.
Phillips 66 Company Profile
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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