Legal & General Group Plc lifted its stake in shares of Phillips 66 (NYSE:PSX – Get Rating) by 12.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,843,576 shares of the oil and gas company’s stock after buying an additional 413,085 shares during the quarter. Legal & General Group Plc owned approximately 0.80% of Phillips 66 worth $315,135,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Bornite Capital Management LP purchased a new stake in Phillips 66 during the first quarter worth approximately $8,639,000. B. Metzler seel. Sohn & Co. AG lifted its stake in Phillips 66 by 2.6% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 28,703 shares of the oil and gas company’s stock worth $2,479,000 after purchasing an additional 717 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Phillips 66 by 61.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,813 shares of the oil and gas company’s stock worth $5,513,000 after purchasing an additional 24,371 shares during the last quarter. Wealth Alliance lifted its stake in Phillips 66 by 2.9% during the first quarter. Wealth Alliance now owns 6,612 shares of the oil and gas company’s stock worth $571,000 after purchasing an additional 189 shares during the last quarter. Finally, MAI Capital Management lifted its stake in Phillips 66 by 58.9% during the first quarter. MAI Capital Management now owns 21,665 shares of the oil and gas company’s stock worth $1,872,000 after purchasing an additional 8,031 shares during the last quarter. 71.42% of the stock is owned by institutional investors and hedge funds.
Phillips 66 Price Performance
Phillips 66 stock opened at $102.13 on Wednesday. The business has a 50 day simple moving average of $103.01 and a 200-day simple moving average of $93.59. Phillips 66 has a 12 month low of $68.57 and a 12 month high of $113.53. The stock has a market capitalization of $48.27 billion, a PE ratio of 4.67, a price-to-earnings-growth ratio of 0.28 and a beta of 1.43. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.30 and a quick ratio of 1.06.
Phillips 66 (NYSE:PSX – Get Rating) last announced its quarterly earnings data on Tuesday, November 1st. The oil and gas company reported $6.46 earnings per share for the quarter, topping analysts’ consensus estimates of $4.82 by $1.64. Phillips 66 had a return on equity of 32.66% and a net margin of 6.18%. During the same quarter last year, the firm earned $3.18 EPS. Equities analysts predict that Phillips 66 will post 19.94 earnings per share for the current year.
Phillips 66 Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Investors of record on Thursday, November 17th were issued a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a yield of 3.80%. The ex-dividend date of this dividend was Wednesday, November 16th. Phillips 66’s dividend payout ratio is presently 17.75%.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Raymond James boosted their target price on Phillips 66 from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, November 10th. Royal Bank of Canada boosted their price objective on Phillips 66 from $119.00 to $131.00 and gave the company an “outperform” rating in a research note on Thursday, November 10th. Morgan Stanley boosted their price objective on Phillips 66 from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Monday, November 7th. Wolfe Research cut Phillips 66 from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, September 14th. Finally, StockNews.com initiated coverage on Phillips 66 in a research note on Wednesday, October 12th. They issued a “buy” rating for the company. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $116.73.
Insider Buying and Selling
In related news, VP Joseph Scott Pruitt sold 3,000 shares of the company’s stock in a transaction on Friday, November 11th. The stock was sold at an average price of $111.86, for a total transaction of $335,580.00. Following the transaction, the vice president now owns 15,302 shares of the company’s stock, valued at $1,711,681.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.74% of the stock is currently owned by corporate insiders.
Phillips 66 Profile
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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