Canada Pension Plan Investment Board Lowers Position in Phillips 66 (NYSE:PSX)

Canada Pension Plan Investment Board reduced its position in Phillips 66 (NYSE:PSX) by 48.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 595,738 shares of the oil and gas company’s stock after selling 549,852 shares during the period. Canada Pension Plan Investment Board owned about 0.14% of Phillips 66 worth $67,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bogart Wealth LLC increased its stake in shares of Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 120 shares in the last quarter. J.Safra Asset Management Corp acquired a new stake in Phillips 66 in the fourth quarter valued at approximately $25,000. Stephens Consulting LLC increased its position in shares of Phillips 66 by 83.5% in the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 111 shares in the last quarter. Graney & King LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $28,000. Finally, Human Investing LLC purchased a new position in shares of Phillips 66 during the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE PSX opened at $98.88 on Friday. The company has a market cap of $40.29 billion, a P/E ratio of 20.02, a P/E/G ratio of 4.84 and a beta of 1.17. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $159.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock has a 50-day moving average of $118.36 and a two-hundred day moving average of $122.44.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results 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 previous year, the firm posted $3.09 earnings per share. As a group, analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 5th. Stockholders of record on Monday, February 24th were given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio is presently 93.12%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Raymond James reduced their price objective on shares of Phillips 66 from $150.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Wolfe Research raised Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Friday, January 3rd. StockNews.com lowered Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Piper Sandler lowered Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 10th. Finally, Barclays dropped their target price on shares of Phillips 66 from $135.00 to $106.00 and set an “equal weight” rating for the company in a report on Thursday, April 10th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average price target of $142.00.

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.