Massachusetts Financial Services Co. MA Sells 334,350 Shares of Phillips 66 (NYSE:PSX)

Massachusetts Financial Services Co. MA lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 28.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 830,248 shares of the oil and gas company’s stock after selling 334,350 shares during the period. Massachusetts Financial Services Co. MA owned about 0.19% of Phillips 66 worth $85,017,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in PSX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its position in Phillips 66 by 24.3% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,146 shares of the oil and gas company’s stock valued at $117,000 after buying an additional 224 shares during the period. Boston Advisors LLC increased its stake in shares of Phillips 66 by 349.7% in the 3rd quarter. Boston Advisors LLC now owns 17,245 shares of the oil and gas company’s stock worth $1,766,000 after acquiring an additional 13,410 shares in the last quarter. Little House Capital LLC bought a new position in shares of Phillips 66 in the 3rd quarter worth about $486,000. Mason Street Advisors LLC increased its stake in shares of Phillips 66 by 7.3% in the 3rd quarter. Mason Street Advisors LLC now owns 63,902 shares of the oil and gas company’s stock worth $6,544,000 after acquiring an additional 4,333 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC increased its stake in shares of Phillips 66 by 5.1% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 2,133 shares of the oil and gas company’s stock worth $218,000 after acquiring an additional 104 shares in the last quarter. 69.11% of the stock is currently owned by institutional investors.

Several research analysts recently issued reports on PSX shares. ValuEngine lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Wells Fargo & Co increased their price target on shares of Phillips 66 from $130.00 to $132.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 25th. Zacks Investment Research lowered shares of Phillips 66 from a “buy” rating to a “hold” rating and set a $125.00 price target for the company. in a research note on Tuesday, October 29th. Morgan Stanley increased their price target on shares of Phillips 66 from $115.00 to $125.00 and gave the stock an “equal weight” rating in a research note on Monday. Finally, Scotiabank started coverage on shares of Phillips 66 in a research note on Tuesday, September 3rd. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $119.80.

NYSE:PSX traded down $0.97 on Friday, reaching $118.47. 25,239 shares of the stock traded hands, compared to its average volume of 2,660,082. The company has a market capitalization of $52.48 billion, a price-to-earnings ratio of 10.13, a PEG ratio of 2.08 and a beta of 1.10. The company has a current ratio of 1.29, a quick ratio of 0.84 and a debt-to-equity ratio of 0.41. Phillips 66 has a 12 month low of $78.44 and a 12 month high of $119.92. The company’s fifty day simple moving average is $110.01 and its 200 day simple moving average is $98.26.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, October 25th. The oil and gas company reported $3.11 earnings per share for the quarter, beating analysts’ consensus estimates of $2.60 by $0.51. The business had revenue of $27.77 billion during the quarter, compared to analyst estimates of $28.31 billion. Phillips 66 had a net margin of 4.17% and a return on equity of 19.31%. During the same period last year, the business earned $3.10 EPS. Equities analysts anticipate that Phillips 66 will post 8.72 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be paid a dividend of $0.90 per share. The ex-dividend date is Friday, November 15th. This represents a $3.60 dividend on an annualized basis and a yield of 3.04%. Phillips 66’s dividend payout ratio is currently 30.74%.

In other Phillips 66 news, EVP Robert A. Herman sold 47,433 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $103.17, for a total transaction of $4,893,662.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.13% of the stock is currently owned by company insiders.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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