Phillips 66 (NYSE:PSX) Shares Sold by Shell Asset Management Co.

Shell Asset Management Co. lowered its stake in shares of Phillips 66 (NYSE:PSX) by 80.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,360 shares of the oil and gas company’s stock after selling 5,615 shares during the period. Shell Asset Management Co.’s holdings in Phillips 66 were worth $155,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in PSX. Price T Rowe Associates Inc. MD increased its holdings in Phillips 66 by 283.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company’s stock valued at $686,618,000 after acquiring an additional 4,455,220 shares in the last quarter. Norges Bank acquired a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $497,648,000. Raymond James Financial Inc. purchased a new position in shares of Phillips 66 during the 4th quarter worth approximately $168,790,000. Capitolis Liquid Global Markets LLC purchased a new position in shares of Phillips 66 during the 4th quarter worth approximately $142,185,000. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Phillips 66 by 157.6% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company’s stock worth $175,593,000 after purchasing an additional 942,922 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Analyst Upgrades and Downgrades

PSX has been the subject of several recent research reports. Morgan Stanley dropped their price target on Phillips 66 from $140.00 to $122.00 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. StockNews.com raised Phillips 66 from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. UBS Group decreased their price target on shares of Phillips 66 from $144.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Wells Fargo & Company cut their price objective on shares of Phillips 66 from $162.00 to $149.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Finally, Mizuho upped their price objective on shares of Phillips 66 from $132.00 to $138.00 and gave the company a “neutral” rating in a research note on Tuesday, May 13th. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.86.

Phillips 66 Stock Performance

NYSE:PSX opened at $121.97 on Tuesday. The company has a market cap of $49.70 billion, a P/E ratio of 24.69, a P/E/G ratio of 4.84 and a beta of 1.01. The firm’s 50 day moving average is $111.57 and its two-hundred day moving average is $119.22. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $150.12. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. The firm had revenue of $31.92 billion during the quarter, compared to analysts’ expectations of $31.93 billion. During the same period last year, the business posted $1.90 earnings per share. Analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be paid a $1.20 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66’s payout ratio is currently 109.34%.

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.