IFM Investors Pty Ltd Has $9.45 Million Stake in Phillips 66 (NYSE:PSX)

IFM Investors Pty Ltd reduced its holdings in Phillips 66 (NYSE:PSX) by 18.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 71,861 shares of the oil and gas company’s stock after selling 15,803 shares during the quarter. IFM Investors Pty Ltd’s holdings in Phillips 66 were worth $9,446,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Crewe Advisors LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at about $25,000. Keener Financial Planning LLC bought a new position in Phillips 66 in the first quarter valued at approximately $26,000. Redmont Wealth Advisors LLC acquired a new position in shares of Phillips 66 during the 1st quarter worth approximately $28,000. Ruedi Wealth Management Inc. raised its stake in shares of Phillips 66 by 102.1% during the 1st quarter. Ruedi Wealth Management Inc. now owns 190 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 96 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Phillips 66 in the 3rd quarter valued at approximately $26,000. 76.93% of the stock is owned by institutional investors.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, the chief financial officer now owns 81,937 shares in the company, valued at $11,390,062.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.22% of the company’s stock.

Phillips 66 Stock Down 0.5 %

NYSE PSX opened at $128.49 on Friday. The company has a market cap of $53.78 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 5.61 and a beta of 1.33. Phillips 66 has a 1-year low of $107.85 and a 1-year high of $174.08. The company has a current ratio of 1.14, a quick ratio of 0.79 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average of $132.85 and a 200-day moving average of $139.57.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.33. The company had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s revenue was up 8.9% on a year-over-year basis. During the same quarter last year, the business earned $3.87 earnings per share. On average, equities research analysts expect that Phillips 66 will post 7.81 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.58%. Phillips 66’s dividend payout ratio (DPR) is currently 39.45%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on PSX. Wells Fargo & Company lowered their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a report on Wednesday, October 9th. Bank of America initiated coverage on shares of Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price for the company. Raymond James upped their price objective on Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Scotiabank cut their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Finally, Morgan Stanley decreased their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $149.50.

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.