Phillips 66 (NYSE:PSX) Shares Sold by Barclays PLC

Barclays PLC decreased its holdings in Phillips 66 (NYSE:PSX) by 9.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,993,604 shares of the oil and gas company’s stock after selling 757,885 shares during the quarter. Barclays PLC’s holdings in Phillips 66 were worth $919,306,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LRI Investments LLC lifted its stake in shares of Phillips 66 by 37.0% during the third quarter. LRI Investments LLC now owns 1,686 shares of the oil and gas company’s stock worth $219,000 after buying an additional 455 shares during the period. Groupama Asset Managment lifted its position in Phillips 66 by 1.6% during the 3rd quarter. Groupama Asset Managment now owns 10,440 shares of the oil and gas company’s stock worth $1,372,000 after acquiring an additional 166 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in Phillips 66 by 3.3% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 132,205 shares of the oil and gas company’s stock worth $17,378,000 after acquiring an additional 4,211 shares during the period. Hodges Capital Management Inc. purchased a new stake in Phillips 66 during the 3rd quarter valued at about $427,000. Finally, iSAM Funds UK Ltd acquired a new position in shares of Phillips 66 in the third quarter valued at about $281,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PSX has been the topic of a number of recent research reports. Morgan Stanley dropped their target price on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating on the stock in a research report on Monday, September 16th. Wells Fargo & Company decreased their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. cut their price target on Phillips 66 from $160.00 to $141.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 2nd. Bank of America began coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Finally, TD Cowen reduced their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Stock Performance

PSX opened at $128.68 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average price is $130.84 and its 200 day moving average price is $134.38. The firm has a market capitalization of $53.14 billion, a PE ratio of 16.52, a PEG ratio of 4.24 and a beta of 1.35. Phillips 66 has a twelve month low of $119.77 and a twelve month high of $174.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.41. The firm had revenue of $36.16 billion for the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The company’s revenue was down 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.63 EPS. As a group, sell-side analysts expect that Phillips 66 will post 7.59 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Investors of record on Monday, November 18th were given a $1.15 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.57%. Phillips 66’s payout ratio is 59.05%.

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.