Phillips 66 $PSX Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lessened its holdings in shares of Phillips 66 (NYSE:PSX) by 57.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,079 shares of the oil and gas company’s stock after selling 5,503 shares during the period. Manning & Napier Advisors LLC’s holdings in Phillips 66 were worth $528,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PSX. Oppenheimer & Co. Inc. boosted its stake in Phillips 66 by 57.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company’s stock worth $7,734,000 after purchasing an additional 20,742 shares in the last quarter. First National Bank of Omaha acquired a new position in Phillips 66 during the 3rd quarter valued at approximately $2,357,000. TD Asset Management Inc increased its stake in Phillips 66 by 15.5% during the 3rd quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company’s stock valued at $23,724,000 after purchasing an additional 23,364 shares in the last quarter. Caprock Group LLC purchased a new position in shares of Phillips 66 in the third quarter worth $2,412,000. Finally, National Pension Service lifted its stake in shares of Phillips 66 by 3.5% during the third quarter. National Pension Service now owns 602,099 shares of the oil and gas company’s stock worth $81,898,000 after buying an additional 20,213 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $171.42 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The company has a fifty day moving average of $168.80 and a two-hundred day moving average of $150.20. The stock has a market capitalization of $68.73 billion, a PE ratio of 16.89, a P/E/G ratio of 0.26 and a beta of 0.70. Phillips 66 has a fifty-two week low of $109.39 and a fifty-two week high of $190.61.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $1.03. The business had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter last year, the business earned ($0.90) earnings per share. As a group, research analysts forecast that Phillips 66 will post 17.39 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Monday, May 18th will be paid a $1.27 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a dividend yield of 3.0%. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PSX shares. TD Cowen boosted their price objective on shares of Phillips 66 from $155.00 to $213.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 2nd. The Goldman Sachs Group boosted their price target on Phillips 66 from $186.00 to $192.00 and gave the company a “neutral” rating in a research note on Friday, April 10th. Morgan Stanley reissued an “overweight” rating and issued a $180.00 price objective on shares of Phillips 66 in a report on Thursday, April 30th. Finally, Jefferies Financial Group cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and ten have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $184.50.

Insider Buying and Selling at Phillips 66

In related news, Director Lisa Ann Davis sold 3,800 shares of the stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the completion of the transaction, the director directly owned 8,701 shares in the company, valued at approximately $1,517,193.37. This represents a 30.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kevin Omar Meyers bought 175 shares of Phillips 66 stock in a transaction on Wednesday, May 6th. The stock was acquired at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the transaction, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have sold 91,529 shares of company stock worth $15,740,519. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.