Vinva Investment Management Ltd Sells 5,093 Shares of Phillips 66 $PSX

Vinva Investment Management Ltd lowered its position in Phillips 66 (NYSE:PSX) by 29.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,256 shares of the oil and gas company’s stock after selling 5,093 shares during the quarter. Vinva Investment Management Ltd’s holdings in Phillips 66 were worth $1,462,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PSX. Wolff Wiese Magana LLC raised its stake in shares of Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. Pinpoint Asset Management Ltd bought a new stake in Phillips 66 in the 1st quarter valued at $29,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Phillips 66 in the 2nd quarter valued at $32,000. Webster Bank N. A. raised its stake in shares of Phillips 66 by 58.8% in the 2nd quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. Finally, Nova Wealth Management Inc. bought a new position in shares of Phillips 66 during the 1st quarter worth about $37,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX opened at $137.15 on Friday. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $143.25. The company has a 50 day moving average of $134.67 and a 200-day moving average of $127.79. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The firm has a market cap of $55.26 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 1.81 and a beta of 1.08.

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

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Monday, November 17th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, November 17th. Phillips 66’s dividend payout ratio is presently 131.15%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on PSX. Evercore ISI lifted their target price on shares of Phillips 66 from $130.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, September 19th. Barclays raised their price target on shares of Phillips 66 from $132.00 to $141.00 and gave the stock an “equal weight” rating in a research note on Monday, November 17th. TD Cowen upped their price objective on Phillips 66 from $140.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, October 30th. Morgan Stanley increased their target price on Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, October 3rd. Finally, Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $145.71.

Insider Activity

In related news, EVP Brian Mandell sold 26,200 shares of Phillips 66 stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $137.68, for a total value of $3,607,216.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares of the company’s stock, valued at $7,825,455.84. The trade was a 31.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the transaction, the chief financial officer owned 89,771 shares in the company, valued at approximately $12,388,398. This trade represents a 25.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 64,986 shares of company stock worth $8,955,291. 0.22% of the stock is owned by corporate insiders.

About Phillips 66

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.