Sun Life Financial INC Sells 373 Shares of Phillips 66 (NYSE:PSX)

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Sun Life Financial INC lessened its stake in Phillips 66 (NYSE:PSX) by 52.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 341 shares of the oil and gas company’s stock after selling 373 shares during the period. Sun Life Financial INC’s holdings in Phillips 66 were worth $32,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in shares of Phillips 66 by 19.7% during the 2nd quarter. Wells Fargo & Company MN now owns 10,863,480 shares of the oil and gas company’s stock valued at $1,016,170,000 after acquiring an additional 1,790,537 shares during the last quarter. Northern Trust Corp raised its position in shares of Phillips 66 by 0.9% during the 1st quarter. Northern Trust Corp now owns 5,695,981 shares of the oil and gas company’s stock valued at $542,087,000 after acquiring an additional 48,937 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Phillips 66 by 8.0% during the 4th quarter. Geode Capital Management LLC now owns 5,386,724 shares of the oil and gas company’s stock valued at $463,230,000 after acquiring an additional 396,796 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Phillips 66 by 10.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,882,918 shares of the oil and gas company’s stock valued at $448,008,000 after acquiring an additional 463,870 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of Phillips 66 by 2.4% during the 2nd quarter. LSV Asset Management now owns 4,701,505 shares of the oil and gas company’s stock valued at $439,778,000 after acquiring an additional 112,310 shares during the last quarter. Hedge funds and other institutional investors own 70.37% of the company’s stock.

Several equities analysts have recently issued reports on PSX shares. Raymond James boosted their price target on shares of Phillips 66 from $110.00 to $117.00 and gave the company an “outperform” rating in a report on Monday, July 29th. Citigroup raised shares of Phillips 66 from a “neutral” rating to a “buy” rating in a report on Friday, June 21st. ValuEngine lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Cowen boosted their price target on shares of Phillips 66 from $112.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Morgan Stanley decreased their price target on shares of Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating for the company in a report on Friday, May 17th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $117.64.

Shares of PSX stock traded up $0.51 on Friday, hitting $98.63. The stock had a trading volume of 1,780,089 shares, compared to its average volume of 2,287,050. Phillips 66 has a twelve month low of $78.44 and a twelve month high of $121.01. The firm has a market cap of $44.01 billion, a P/E ratio of 8.42, a PEG ratio of 1.97 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. The company has a fifty day moving average price of $99.72 and a two-hundred day moving average price of $94.32.

Phillips 66 (NYSE:PSX) last announced its earnings results on Friday, July 26th. The oil and gas company reported $3.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.70 by $0.32. The firm had revenue of $28.52 billion during the quarter, compared to analyst estimates of $29.89 billion. Phillips 66 had a net margin of 4.76% and a return on equity of 19.75%. During the same period in the prior year, the business earned $2.80 EPS. On average, analysts expect that Phillips 66 will post 7.67 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th will be paid a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date is Monday, August 19th. Phillips 66’s payout ratio is presently 30.74%.

About Phillips 66

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 products to market; provides terminaling and storage services for crude oil and 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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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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