Prudential PLC Has $1.26 Million Stake in Phillips 66 $PSX

Prudential PLC grew its position in Phillips 66 (NYSE:PSX) by 70.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,599 shares of the oil and gas company’s stock after purchasing an additional 4,380 shares during the quarter. Prudential PLC’s holdings in Phillips 66 were worth $1,264,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Hikari Tsushin Inc. lifted its stake in Phillips 66 by 1.1% in the 2nd quarter. Hikari Tsushin Inc. now owns 125,019 shares of the oil and gas company’s stock valued at $14,915,000 after purchasing an additional 1,328 shares during the last quarter. Empirical Finance LLC boosted its position in Phillips 66 by 0.6% during the second quarter. Empirical Finance LLC now owns 15,526 shares of the oil and gas company’s stock valued at $1,852,000 after acquiring an additional 100 shares during the last quarter. TD Waterhouse Canada Inc. increased its holdings in Phillips 66 by 13.9% in the second quarter. TD Waterhouse Canada Inc. now owns 54,534 shares of the oil and gas company’s stock worth $6,712,000 after purchasing an additional 6,656 shares in the last quarter. Traub Capital Management LLC acquired a new position in shares of Phillips 66 during the 2nd quarter valued at $43,000. Finally, Birchbrook Inc. acquired a new stake in shares of Phillips 66 in the 2nd quarter valued at about $112,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 1.4%

PSX opened at $133.78 on Monday. The stock has a market capitalization of $53.90 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 1.81 and a beta of 1.08. The firm has a 50 day moving average price of $134.33 and a 200-day moving average price of $127.23. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $143.25. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The company had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. During the same period in the previous year, the business posted $2.04 earnings per share. Equities research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.6%. The ex-dividend date is Monday, November 17th. Phillips 66’s payout ratio is currently 131.15%.

Insider Activity at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’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 transaction of $615,020.00. Following the sale, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. The trade was a 11.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction on Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the sale, the chief financial officer directly owned 89,771 shares in the company, valued at approximately $12,388,398. This represents a 25.05% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 64,986 shares of company stock valued at $8,955,291 over the last 90 days. 0.22% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Cowen reissued a “buy” rating on shares of Phillips 66 in a report on Thursday, October 30th. Bank of America cut Phillips 66 from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $144.00 to $147.00 in a report on Wednesday, September 3rd. TD Cowen upped their price objective on shares of Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Wells Fargo & Company boosted their price objective 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. Finally, Morgan Stanley upped their price objective on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 3rd. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $145.71.

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.