The Manufacturers Life Insurance Company grew its holdings in shares of Phillips 66 (NYSE:PSX) by 7.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 487,213 shares of the oil and gas company’s stock after purchasing an additional 31,921 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.10% of Phillips 66 worth $49,282,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. EP Wealth Advisors LLC lifted its position in shares of Phillips 66 by 1.9% in the second quarter. EP Wealth Advisors LLC now owns 3,806 shares of the oil and gas company’s stock worth $315,000 after purchasing an additional 70 shares in the last quarter. Monetary Management Group Inc. raised its position in Phillips 66 by 2.1% during the second quarter. Monetary Management Group Inc. now owns 4,877 shares of the oil and gas company’s stock valued at $403,000 after acquiring an additional 100 shares in the last quarter. Laurel Wealth Advisors Inc. raised its position in Phillips 66 by 0.6% during the second quarter. Laurel Wealth Advisors Inc. now owns 19,058 shares of the oil and gas company’s stock valued at $1,575,000 after acquiring an additional 105 shares in the last quarter. YorkBridge Wealth Partners LLC raised its position in Phillips 66 by 3.2% during the second quarter. YorkBridge Wealth Partners LLC now owns 4,460 shares of the oil and gas company’s stock valued at $372,000 after acquiring an additional 139 shares in the last quarter. Finally, Blue Edge Capital LLC raised its position in Phillips 66 by 3.2% during the second quarter. Blue Edge Capital LLC now owns 5,088 shares of the oil and gas company’s stock valued at $421,000 after acquiring an additional 160 shares in the last quarter. Institutional investors own 77.87% of the company’s stock.
Several brokerages have recently issued reports on PSX. Barclays downgraded shares of Phillips 66 from an “equal weight” rating to an “underweight” rating and lifted their price target for the stock from $95.00 to $100.00 in a research note on Tuesday, November 14th. UBS Group lifted their price target on Phillips 66 from $85.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, November 15th. Vetr cut Phillips 66 from a “buy” rating to a “hold” rating and set a $97.16 price objective for the company. in a report on Tuesday, November 21st. US Capital Advisors cut Phillips 66 from an “overweight” rating to a “hold” rating in a report on Monday, December 4th. Finally, Goldman Sachs Group upgraded Phillips 66 to a “buy” rating in a research report on Monday, December 18th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $103.46.
Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, February 2nd. The oil and gas company reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.21. The firm had revenue of $30.12 billion for the quarter, compared to analyst estimates of $30.71 billion. Phillips 66 had a return on equity of 9.18% and a net margin of 4.88%. During the same period in the prior year, the firm posted $0.16 EPS. equities analysts expect that Phillips 66 will post 7.22 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Stockholders of record on Tuesday, February 20th were issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend was Friday, February 16th. Phillips 66’s dividend payout ratio (DPR) is currently 61.00%.
In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the firm’s 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 sale, the vice president now directly owns 2,700 shares of the company’s stock, valued at $270,675. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.50% of the company’s stock.
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About Phillips 66
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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