Rathbones Group PLC Reduces Position in Phillips 66 $PSX

Rathbones Group PLC trimmed its position in Phillips 66 (NYSE:PSX) by 14.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,785 shares of the oil and gas company’s stock after selling 965 shares during the period. Rathbones Group PLC’s holdings in Phillips 66 were worth $690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC purchased a new position in shares of Phillips 66 in the second quarter worth about $2,612,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in Phillips 66 by 20.5% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 5,497 shares of the oil and gas company’s stock worth $656,000 after buying an additional 937 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in Phillips 66 by 5.3% during the 2nd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 778,433 shares of the oil and gas company’s stock worth $92,867,000 after buying an additional 39,107 shares during the last quarter. Aviva PLC raised its position in Phillips 66 by 6.5% during the 2nd quarter. Aviva PLC now owns 311,887 shares of the oil and gas company’s stock worth $37,208,000 after buying an additional 18,946 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in Phillips 66 by 4,710.2% during the 2nd quarter. Los Angeles Capital Management LLC now owns 98,609 shares of the oil and gas company’s stock valued at $11,764,000 after acquiring an additional 96,559 shares during the period. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Activity

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the transaction, the executive vice president owned 34,587 shares in the company, valued at $4,842,180. This trade represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gregory Hayes purchased 8,350 shares of the company’s stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the transaction, the director directly owned 29,423 shares of the company’s stock, valued at $3,527,817.70. This represents a 39.62% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Stock Up 1.5%

Phillips 66 stock opened at $140.74 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The stock has a market capitalization of $56.71 billion, a PE ratio of 38.45, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. The business has a 50 day simple moving average of $133.44 and a 200-day simple moving average of $125.46. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $142.94.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. The firm had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. During the same quarter last year, the company earned $2.04 EPS. On average, analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.4%. Phillips 66’s payout ratio is currently 131.15%.

Analysts Set New Price Targets

Several research analysts recently issued reports on PSX shares. Wells Fargo & Company raised their target price on shares of Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. TD Cowen lifted their price objective on Phillips 66 from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Cowen restated a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Finally, Citigroup lowered Phillips 66 from a “buy” rating to a “neutral” rating and upped their price objective for the stock from $126.00 to $130.00 in a research report on Wednesday, July 16th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $143.56.

Phillips 66 Profile

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.