Prudential PLC Buys 19,464 Shares of Phillips 66 $PSX

Prudential PLC grew its stake in shares of Phillips 66 (NYSE:PSX) by 313.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 25,683 shares of the oil and gas company’s stock after acquiring an additional 19,464 shares during the period. Prudential PLC’s holdings in Phillips 66 were worth $3,314,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Board of the Pension Protection Fund bought a new stake in shares of Phillips 66 during the fourth quarter valued at about $26,000. Accordant Advisory Group Inc grew its holdings in shares of Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 180 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Phillips 66 during the fourth quarter worth about $27,000. Stephens Consulting LLC grew its holdings in shares of Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 90 shares in the last quarter. Finally, Dorato Capital Management purchased a new position in shares of Phillips 66 during the fourth quarter worth about $35,000. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PSX has been the subject of several recent analyst reports. TD Cowen boosted their price objective on Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. UBS Group boosted their price objective on Phillips 66 from $172.00 to $212.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Piper Sandler boosted their price objective on Phillips 66 from $168.00 to $177.00 and gave the stock a “neutral” rating in a report on Wednesday, April 8th. Citigroup boosted their price objective on Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Finally, The Goldman Sachs Group boosted their price objective on Phillips 66 from $192.00 to $207.00 and gave the stock a “neutral” rating in a report on Tuesday, May 19th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $191.28.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Lisa Ann Davis sold 3,800 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the completion of the sale, the director owned 8,701 shares of the company’s stock, valued at $1,517,193.37. This represents a 30.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian Mandell sold 42,800 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total value of $7,255,884.00. Following the completion of the sale, the executive vice president directly owned 61,595 shares of the company’s stock, valued at approximately $10,442,200.35. This represents a 41.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 92,229 shares of company stock worth $15,990,030 in the last three months. Corporate insiders own 0.40% of the company’s stock.

Phillips 66 Stock Down 0.5%

Shares of PSX opened at $183.30 on Friday. The firm has a market cap of $73.49 billion, a P/E ratio of 18.06, a P/E/G ratio of 0.27 and a beta of 0.68. The stock has a 50 day simple moving average of $172.76 and a two-hundred day simple moving average of $156.17. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. Phillips 66 has a 1 year low of $112.95 and a 1 year high of $190.61.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.54) by $1.03. The business had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.Phillips 66’s revenue for the quarter was up 6.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.90) earnings per share. On average, analysts forecast that Phillips 66 will post 17.64 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were paid a $1.27 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.8%. Phillips 66’s dividend payout ratio is currently 50.05%.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.