Aviva PLC Reduces Stake in Phillips 66 (NYSE:PSX)

Aviva PLC cut its stake in shares of Phillips 66 (NYSE:PSX) by 14.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 252,689 shares of the oil and gas company’s stock after selling 42,235 shares during the period. Aviva PLC owned 0.06% of Phillips 66 worth $28,789,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PSX. Bank of New York Mellon Corp lifted its stake in Phillips 66 by 7.3% in the 4th quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after purchasing an additional 639,323 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Phillips 66 by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company’s stock worth $968,844,000 after purchasing an additional 82,758 shares during the period. Norges Bank purchased a new stake in shares of Phillips 66 in the fourth quarter worth $497,648,000. Amundi boosted its stake in Phillips 66 by 25.7% during the fourth quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock valued at $428,081,000 after buying an additional 753,653 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Phillips 66 by 3.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,002,995 shares of the oil and gas company’s stock worth $342,131,000 after buying an additional 101,108 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. The Goldman Sachs Group downgraded Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 price target for the company. in a research report on Thursday, March 27th. Wells Fargo & Company increased their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Mizuho dropped their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating for the company in a report on Monday, December 16th. StockNews.com cut Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Finally, Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.43.

Phillips 66 Trading Down 8.0 %

NYSE:PSX opened at $98.65 on Monday. The firm has a market capitalization of $40.22 billion, a P/E ratio of 19.97, a P/E/G ratio of 4.84 and a beta of 1.17. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average of $124.24 and a 200 day moving average of $125.09. Phillips 66 has a 52 week low of $95.67 and a 52 week high of $171.41.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the company earned $3.09 EPS. On average, research analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Monday, February 24th. This represents a $4.60 annualized dividend and a dividend yield of 4.66%. Phillips 66’s dividend payout ratio (DPR) is presently 93.12%.

Phillips 66 Company 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.