Invesco Ltd. Sells 61,139 Shares of Phillips 66 $PSX

Invesco Ltd. lessened its stake in shares of Phillips 66 (NYSE:PSX) by 1.3% in the second quarter, Holdings Channel reports. The institutional investor owned 4,704,727 shares of the oil and gas company’s stock after selling 61,139 shares during the quarter. Invesco Ltd.’s holdings in Phillips 66 were worth $561,274,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSX. Vanguard Group Inc. grew its stake in Phillips 66 by 14.8% during the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock valued at $5,531,702,000 after acquiring an additional 5,978,841 shares in the last quarter. Elliott Investment Management L.P. lifted its stake in Phillips 66 by 1,929.0% in the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after purchasing an additional 14,950,000 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Phillips 66 by 17.4% in the 2nd quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock valued at $1,226,815,000 after purchasing an additional 1,532,967 shares during the period. Bank of New York Mellon Corp grew its position in shares of Phillips 66 by 6.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock valued at $1,120,794,000 after purchasing an additional 537,245 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Phillips 66 by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock worth $828,442,000 after purchasing an additional 682,459 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction 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 sale, the executive vice president directly owned 34,587 shares of the company’s stock, valued at approximately $4,842,180. This represents a 11.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Brian Mandell sold 25,500 shares of the firm’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the sale, the executive vice president directly owned 56,838 shares of the company’s stock, valued at $7,959,593.52. This trade represents a 30.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 90,486 shares of company stock worth $12,526,311. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $139.47 on Friday. The stock’s 50-day moving average is $135.05 and its 200 day moving average is $128.18. The stock has a market cap of $56.19 billion, a price-to-earnings ratio of 38.11, a P/E/G ratio of 0.73 and a beta of 0.92. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $143.25. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. The business 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 5.53%. During the same period last year, the business earned $2.04 earnings per share. On average, sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, November 17th were paid a $1.20 dividend. The ex-dividend date of this dividend was Monday, November 17th. This represents a $4.80 annualized dividend and a dividend yield of 3.4%. Phillips 66’s dividend payout ratio (DPR) is presently 131.15%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PSX shares. Morgan Stanley lifted their price objective on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a report on Wednesday, October 8th. Wall Street Zen upgraded Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Zacks Research cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. Finally, Cowen reiterated a “buy” rating on shares of Phillips 66 in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, Phillips 66 has a consensus rating of “Hold” and a consensus price target of $146.82.

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.