M&G Plc Sells 1,890 Shares of Phillips 66 (NYSE:PSX)

M&G Plc trimmed its stake in Phillips 66 (NYSE:PSX) by 7.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 23,616 shares of the oil and gas company’s stock after selling 1,890 shares during the period. M&G Plc’s holdings in Phillips 66 were worth $3,094,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mitchell & Pahl Private Wealth LLC increased its holdings in shares of Phillips 66 by 0.4% in the 2nd quarter. Mitchell & Pahl Private Wealth LLC now owns 17,847 shares of the oil and gas company’s stock worth $2,519,000 after buying an additional 74 shares during the last quarter. Catalyst Financial Partners LLC raised its position in Phillips 66 by 5.1% during the second quarter. Catalyst Financial Partners LLC now owns 1,514 shares of the oil and gas company’s stock valued at $214,000 after purchasing an additional 74 shares in the last quarter. Advisory Alpha LLC lifted its stake in Phillips 66 by 4.8% during the second quarter. Advisory Alpha LLC now owns 1,648 shares of the oil and gas company’s stock worth $233,000 after purchasing an additional 76 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its holdings in shares of Phillips 66 by 1.8% in the 2nd quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,363 shares of the oil and gas company’s stock worth $616,000 after purchasing an additional 77 shares in the last quarter. Finally, Atomi Financial Group Inc. increased its position in shares of Phillips 66 by 1.5% during the 1st quarter. Atomi Financial Group Inc. now owns 5,452 shares of the oil and gas company’s stock valued at $890,000 after purchasing an additional 80 shares during the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on PSX shares. Scotiabank dropped their target price on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. TD Cowen cut their price objective on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Bank of America started coverage on shares of Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Wolfe Research started coverage on shares of Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating for the company. Finally, Mizuho reduced their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research note on Monday, September 16th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $150.38.

Phillips 66 Trading Down 0.2 %

PSX opened at $126.47 on Friday. Phillips 66 has a one year low of $110.54 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The business has a 50 day simple moving average of $130.12 and a two-hundred day simple moving average of $136.72. The firm has a market capitalization of $52.23 billion, a price-to-earnings ratio of 16.23, a PEG ratio of 4.17 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.63 earnings per share. Analysts predict that Phillips 66 will post 7.68 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.64%. Phillips 66’s dividend payout ratio is 59.05%.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.22% of the company’s stock.

About Phillips 66

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.