Phillips 66 $PSX Stock Holdings Increased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Phillips 66 (NYSE:PSX) by 20.5% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,497 shares of the oil and gas company’s stock after purchasing an additional 937 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Phillips 66 were worth $656,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Elliott Investment Management L.P. increased its stake in Phillips 66 by 1,929.0% during the 1st quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after buying an additional 14,950,000 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Phillips 66 by 6.1% in the second quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock valued at $1,120,794,000 after acquiring an additional 537,245 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Phillips 66 by 11.3% during 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 during the period. Invesco Ltd. raised its holdings in Phillips 66 by 15.9% during the first quarter. Invesco Ltd. now owns 4,765,866 shares of the oil and gas company’s stock worth $588,489,000 after purchasing an additional 653,248 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in Phillips 66 by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 3,781,064 shares of the oil and gas company’s stock worth $466,886,000 after purchasing an additional 377,132 shares during the period. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Performance

Phillips 66 stock opened at $134.40 on Thursday. The firm’s 50 day simple moving average is $134.28 and its 200-day simple moving average is $126.70. The company has a market cap of $54.15 billion, a P/E ratio of 36.72, a price-to-earnings-growth ratio of 1.81 and a beta of 1.08. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $143.25.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, beating 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 the consensus estimate of $32.29 billion. During the same quarter in the prior year, the firm earned $2.04 EPS. As a group, equities research analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

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 given a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, November 17th. Phillips 66’s dividend payout ratio (DPR) is 131.15%.

Analysts Set New Price Targets

A number of analysts have recently commented on PSX shares. Cowen reissued a “buy” rating on shares of Phillips 66 in a research note on Thursday, October 30th. Evercore ISI boosted their price target on shares of Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. BMO Capital Markets raised their price objective on shares of Phillips 66 from $152.00 to $160.00 in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. Finally, Morgan Stanley increased their target price on shares of Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a research note on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $145.71.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’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 completion of the sale, the chief financial officer directly owned 89,771 shares in the company, valued at approximately $12,388,398. This trade represents a 25.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of Phillips 66 stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $140.00, for a total value of $615,020.00. Following the transaction, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. This trade represents a 11.27% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 38,786 shares of company stock valued at $5,348,075. 0.22% of the stock is currently owned by 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.