BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 8,421 Shares of Phillips 66 (NYSE:PSX)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its holdings in Phillips 66 (NYSE:PSX) by 11.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 63,805 shares of the oil and gas company’s stock after selling 8,421 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Phillips 66 were worth $8,387,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PSX. Lazard Asset Management LLC grew its stake in shares of Phillips 66 by 12.7% during the first quarter. Lazard Asset Management LLC now owns 3,998 shares of the oil and gas company’s stock valued at $652,000 after purchasing an additional 451 shares during the last quarter. Caxton Associates LP increased its stake in shares of Phillips 66 by 22.2% in the 1st quarter. Caxton Associates LP now owns 5,630 shares of the oil and gas company’s stock valued at $920,000 after buying an additional 1,024 shares during the period. Silvercrest Asset Management Group LLC raised its position in shares of Phillips 66 by 1.6% during the first quarter. Silvercrest Asset Management Group LLC now owns 20,955 shares of the oil and gas company’s stock worth $3,423,000 after acquiring an additional 325 shares during the last quarter. Icon Wealth Advisors LLC lifted its stake in shares of Phillips 66 by 3.9% during the first quarter. Icon Wealth Advisors LLC now owns 18,391 shares of the oil and gas company’s stock valued at $3,004,000 after acquiring an additional 684 shares during the period. Finally, Dynasty Wealth Management LLC bought a new position in Phillips 66 in the first quarter valued at about $1,259,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on PSX shares. Mizuho cut their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a research report on Monday, September 16th. Scotiabank cut their price objective on shares of Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Piper Sandler set a $144.00 target price on shares of Phillips 66 in a report on Thursday, October 17th. Raymond James upped their target price on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Finally, Wells Fargo & Company reduced their price target on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 9th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $149.69.

Phillips 66 Price Performance

Shares of PSX opened at $133.27 on Monday. The stock has a 50 day simple moving average of $130.28 and a 200 day simple moving average of $135.27. Phillips 66 has a 52-week low of $117.32 and a 52-week high of $174.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The firm has a market capitalization of $55.04 billion, a PE ratio of 17.11, a P/E/G ratio of 4.34 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. During the same quarter in the prior year, the company earned $4.63 earnings per share. The business’s quarterly revenue was down 10.3% compared to the same quarter last year. Sell-side analysts predict that Phillips 66 will post 7.57 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

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.