Phillips 66 (NYSE:PSX) Shares Sold by Pendal Group Ltd

Pendal Group Ltd reduced its holdings in Phillips 66 (NYSE:PSX) by 86.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,509 shares of the oil and gas company’s stock after selling 53,932 shares during the quarter. Pendal Group Ltd’s holdings in Phillips 66 were worth $755,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in PSX. LSV Asset Management increased its stake in Phillips 66 by 43.3% in the first quarter. LSV Asset Management now owns 4,589,195 shares of the oil and gas company’s stock valued at $436,753,000 after purchasing an additional 1,387,767 shares during the last quarter. AQR Capital Management LLC increased its stake in Phillips 66 by 54.9% in the first quarter. AQR Capital Management LLC now owns 3,332,763 shares of the oil and gas company’s stock valued at $315,479,000 after purchasing an additional 1,181,277 shares during the last quarter. First Trust Advisors LP increased its stake in Phillips 66 by 126.5% in the second quarter. First Trust Advisors LP now owns 1,421,214 shares of the oil and gas company’s stock valued at $132,940,000 after purchasing an additional 793,875 shares during the last quarter. Thoroughbred Financial Services LLC increased its stake in Phillips 66 by 9,254.0% in the second quarter. Thoroughbred Financial Services LLC now owns 799,205 shares of the oil and gas company’s stock valued at $79,920,000 after purchasing an additional 790,661 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Phillips 66 by 8.0% in the first quarter. Wells Fargo & Company MN now owns 9,072,943 shares of the oil and gas company’s stock valued at $863,471,000 after purchasing an additional 674,509 shares during the last quarter. Hedge funds and other institutional investors own 71.31% of the company’s stock.

In other news, Director John E. Lowe purchased 2,000 shares of the company’s stock in a transaction on Tuesday, May 28th. The stock was bought at an average cost of $82.91 per share, for a total transaction of $165,820.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.13% of the company’s stock.

NYSE:PSX traded up $0.85 on Friday, hitting $98.32. 26,965 shares of the stock were exchanged, compared to its average volume of 2,397,699. The stock has a market cap of $44.74 billion, a PE ratio of 8.35, a PEG ratio of 1.97 and a beta of 1.10. The company has a current ratio of 1.28, a quick ratio of 0.82 and a debt-to-equity ratio of 0.39. The stock has a fifty day moving average of $99.21 and a 200-day moving average of $94.05. Phillips 66 has a fifty-two week low of $78.44 and a fifty-two week high of $121.54.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Friday, July 26th. The oil and gas company reported $3.02 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.70 by $0.32. The company had revenue of $28.52 billion during the quarter, compared to analyst estimates of $29.89 billion. Phillips 66 had a return on equity of 19.75% and a net margin of 4.76%. During the same period in the prior year, the firm posted $2.80 earnings per share. As a group, analysts predict that Phillips 66 will post 7.84 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th will be paid a dividend of $0.90 per share. The ex-dividend date is Monday, August 19th. This represents a $3.60 annualized dividend and a yield of 3.66%. Phillips 66’s dividend payout ratio is presently 30.74%.

Several equities analysts recently commented on PSX shares. Raymond James upped their target price on Phillips 66 from $110.00 to $117.00 and gave the company an “outperform” rating in a research note on Monday, July 29th. Cowen upped their target price on Phillips 66 from $112.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. ValuEngine lowered Phillips 66 from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. Citigroup upgraded Phillips 66 from a “neutral” rating to a “buy” rating in a research note on Friday, June 21st. Finally, Morgan Stanley dropped their price target on Phillips 66 from $115.00 to $105.00 and set an “equal weight” rating for the company in a research note on Friday, May 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the company’s stock. Phillips 66 currently has a consensus rating of “Buy” and an average price target of $117.64.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market; provides terminaling and storage services for crude oil and 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.

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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