Royal London Asset Management Ltd. Has $24.92 Million Holdings in Phillips 66 (NYSE:PSX)

Royal London Asset Management Ltd. lessened its position in shares of Phillips 66 (NYSE:PSX) by 25.1% in the second quarter, according to its most recent filing with the SEC. The firm owned 176,489 shares of the oil and gas company’s stock after selling 59,035 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Phillips 66 were worth $24,915,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PSX. Gryphon Financial Partners LLC increased its position in Phillips 66 by 11.4% during the 4th quarter. Gryphon Financial Partners LLC now owns 4,166 shares of the oil and gas company’s stock valued at $546,000 after purchasing an additional 426 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Phillips 66 by 3.5% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 432,340 shares of the oil and gas company’s stock worth $58,690,000 after buying an additional 14,466 shares in the last quarter. Goelzer Investment Management Inc. bought a new position in shares of Phillips 66 during the 4th quarter worth approximately $270,000. Janney Montgomery Scott LLC boosted its holdings in shares of Phillips 66 by 4.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 237,422 shares of the oil and gas company’s stock worth $31,611,000 after buying an additional 9,941 shares in the last quarter. Finally, Foundations Investment Advisors LLC boosted its holdings in shares of Phillips 66 by 8.8% during the 4th quarter. Foundations Investment Advisors LLC now owns 3,230 shares of the oil and gas company’s stock worth $470,000 after buying an additional 261 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 30,000 shares of Phillips 66 stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the sale, the chief financial officer now owns 81,937 shares of the company’s stock, valued at approximately $11,390,062.37. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.22% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on PSX. Barclays increased their price target on Phillips 66 from $136.00 to $138.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Piper Sandler cut their price target on Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. TD Cowen cut their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. cut their target price on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Finally, Wolfe Research began coverage on Phillips 66 in a report on Thursday, July 18th. They issued a “peer perform” rating on the stock. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, Phillips 66 presently has an average rating of “Moderate Buy” and a consensus target price of $156.92.

Phillips 66 Trading Down 1.5 %

Shares of Phillips 66 stock opened at $125.00 on Thursday. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The firm has a market cap of $52.99 billion, a PE ratio of 9.62, a P/E/G ratio of 2.31 and a beta of 1.33. The stock has a fifty day moving average price of $136.32 and a 200-day moving average price of $144.45. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79.

Phillips 66 (NYSE:PSX) last announced its earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.33. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. The firm had revenue of $38.91 billion during the quarter, compared to analyst estimates of $37.79 billion. During the same period last year, the firm posted $3.87 EPS. The business’s revenue was up 8.9% compared to the same quarter last year. Equities research analysts anticipate that Phillips 66 will post 9.25 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.68%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is currently 35.38%.

Phillips 66 Company 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.