Candriam S.C.A. Decreases Stake in Phillips 66 $PSX

Candriam S.C.A. decreased its holdings in Phillips 66 (NYSE:PSX) by 6.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 24,522 shares of the oil and gas company’s stock after selling 1,750 shares during the period. Candriam S.C.A.’s holdings in Phillips 66 were worth $2,926,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Elliott Investment Management L.P. boosted its position in shares of Phillips 66 by 1,929.0% in the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock worth $1,941,723,000 after buying an additional 14,950,000 shares during the period. Geode Capital Management LLC lifted its position in Phillips 66 by 17.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock worth $1,226,815,000 after acquiring an additional 1,532,967 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Phillips 66 by 6.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock worth $1,120,794,000 after acquiring an additional 537,245 shares during the period. Price T Rowe Associates Inc. MD grew its position in Phillips 66 by 11.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 6,709,108 shares of the oil and gas company’s stock valued at $828,442,000 after acquiring an additional 682,459 shares in the last quarter. Finally, Invesco Ltd. increased its stake in Phillips 66 by 15.9% during the 1st quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after buying an additional 653,248 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction that occurred on Friday, September 26th. The stock was sold at an average price of $140.00, for a total value of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares of the company’s stock, valued at $4,842,180. This represents a 11.27% decrease in their position. The sale 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 firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $138.00, for a total value of $4,140,000.00. Following the transaction, the chief financial officer directly owned 89,771 shares in the company, valued at $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 38,786 shares of company stock valued at $5,348,075. Insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX opened at $142.27 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The company has a market cap of $57.33 billion, a P/E ratio of 38.87, a PEG ratio of 1.81 and a beta of 1.08. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $143.25. The stock has a fifty day moving average price of $133.96 and a 200 day moving average price of $126.04.

Phillips 66 (NYSE:PSX) last released its quarterly 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. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The business had revenue of $33.69 billion during the quarter, compared to analyst estimates of $32.29 billion. During the same quarter in the prior year, the firm earned $2.04 earnings per share. On average, research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s payout ratio is 131.15%.

Analyst Ratings Changes

Several brokerages have recently weighed in on PSX. UBS Group restated a “buy” rating and set a $160.00 target price on shares of Phillips 66 in a research note on Monday, November 10th. Barclays lifted their price target on shares of Phillips 66 from $127.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 7th. Evercore ISI raised their price objective on shares of Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, September 19th. Zacks Research lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 31st. Finally, Jefferies Financial Group lifted their target price on Phillips 66 from $133.00 to $137.00 and gave the stock a “hold” rating in a research report on Friday, October 10th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $144.25.

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.