Natixis Advisors L.P. Trims Holdings in Phillips 66 (NYSE:PSX)

Natixis Advisors L.P. lessened its stake in Phillips 66 (NYSE:PSX) by 2.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 294,740 shares of the oil and gas company’s stock after selling 6,577 shares during the period. Natixis Advisors L.P. owned about 0.07% of Phillips 66 worth $39,240,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in PSX. Barclays PLC increased its position in shares of Phillips 66 by 4.2% in the 3rd quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock worth $932,447,000 after purchasing an additional 309,239 shares during the last quarter. Morgan Stanley increased its holdings in shares of Phillips 66 by 2.1% in the 3rd quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock valued at $813,291,000 after acquiring an additional 138,646 shares during the last quarter. Northern Trust Corp raised its position in shares of Phillips 66 by 6.2% during the 3rd quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock valued at $586,463,000 after acquiring an additional 283,010 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Phillips 66 by 21.9% during the third quarter. Envestnet Asset Management Inc. now owns 1,946,809 shares of the oil and gas company’s stock worth $233,909,000 after purchasing an additional 350,211 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Phillips 66 during the fourth quarter valued at $254,336,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now directly owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Richard G. Harbison sold 21,934 shares of Phillips 66 stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total value of $3,208,286.18. Following the transaction, the executive vice president now owns 24,941 shares in the company, valued at approximately $3,648,120.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Pease purchased 682 shares of the stock in a transaction dated Thursday, February 15th. The stock was acquired at an average cost of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the transaction, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 35,056 shares of company stock worth $5,272,681. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Barclays decreased their price target on shares of Phillips 66 from $155.00 to $147.00 and set an “equal weight” rating for the company in a report on Tuesday. Piper Sandler upped their target price on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, April 5th. StockNews.com downgraded Phillips 66 from a “buy” rating to a “hold” rating in a report on Saturday, April 27th. Mizuho lowered their price objective on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Finally, Scotiabank boosted their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $157.43.

Phillips 66 Price Performance

NYSE:PSX traded down $0.26 during mid-day trading on Friday, reaching $143.61. 1,806,203 shares of the stock were exchanged, compared to its average volume of 2,353,122. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The company has a current ratio of 1.17, a quick ratio of 1.02 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $60.88 billion, a PE ratio of 11.05, a PEG ratio of 1.82 and a beta of 1.41. The business has a fifty day moving average price of $155.62 and a 200 day moving average price of $137.81.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). The business had revenue of $36.44 billion during the quarter, compared to the consensus estimate of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same quarter in the previous year, the firm earned $4.21 earnings per share. Research analysts expect that Phillips 66 will post 13.17 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a $1.15 dividend. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.20%. Phillips 66’s dividend payout ratio (DPR) is 32.31%.

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.