Phillips 66 (NYSE:PSX) Stake Lowered by WINTON GROUP Ltd

WINTON GROUP Ltd decreased its stake in Phillips 66 (NYSE:PSX) by 8.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,359 shares of the oil and gas company’s stock after selling 917 shares during the period. WINTON GROUP Ltd’s holdings in Phillips 66 were worth $949,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PSX. Bornite Capital Management LP acquired a new stake in shares of Phillips 66 in the 1st quarter worth about $8,639,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Phillips 66 by 316.2% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company’s stock valued at $570,000 after purchasing an additional 5,012 shares during the period. Synovus Financial Corp raised its holdings in shares of Phillips 66 by 5.1% during the first quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company’s stock valued at $1,405,000 after buying an additional 788 shares during the last quarter. Cibc World Market Inc. raised its holdings in shares of Phillips 66 by 61.9% during the first quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company’s stock valued at $625,000 after buying an additional 2,766 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in shares of Phillips 66 by 103.8% during the first quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company’s stock worth $4,625,000 after buying an additional 27,267 shares during the period. Institutional investors and hedge funds own 71.83% of the company’s stock.

Insider Activity

In related news, EVP Timothy D. Roberts sold 127,578 shares of the firm’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $116.68, for a total value of $14,885,801.04. Following the completion of the transaction, the executive vice president now owns 77,313 shares of the company’s stock, valued at approximately $9,020,880.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Phillips 66 news, EVP Timothy D. Roberts sold 127,578 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $116.68, for a total transaction of $14,885,801.04. Following the completion of the sale, the executive vice president now directly owns 77,313 shares in the company, valued at approximately $9,020,880.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin J. Mitchell sold 9,900 shares of Phillips 66 stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $115.00, for a total value of $1,138,500.00. Following the transaction, the chief financial officer now directly owns 103,803 shares in the company, valued at approximately $11,937,345. The disclosure for this sale can be found here. Insiders have sold 309,878 shares of company stock worth $35,237,757 over the last 90 days. 4.57% of the stock is owned by company insiders.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $117.17 on Tuesday. The company has a market capitalization of $52.17 billion, a PE ratio of 5.08, a price-to-earnings-growth ratio of 0.41 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.90 and a current ratio of 1.33. The stock has a fifty day moving average of $107.32 and a 200-day moving average of $101.35. Phillips 66 has a one year low of $74.02 and a one year high of $117.31.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, August 2nd. The oil and gas company reported $3.87 EPS for the quarter, beating the consensus estimate of $3.54 by $0.33. The business had revenue of $35.74 billion during the quarter, compared to the consensus estimate of $32.13 billion. Phillips 66 had a return on equity of 26.25% and a net margin of 6.81%. During the same period in the prior year, the business posted $6.77 earnings per share. As a group, equities analysts anticipate that Phillips 66 will post 15.14 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Friday, August 18th were issued a $1.05 dividend. This represents a $4.20 annualized dividend and a dividend yield of 3.58%. The ex-dividend date was Thursday, August 17th. Phillips 66’s payout ratio is 18.22%.

Analysts Set New Price Targets

PSX has been the topic of several recent analyst reports. Bank of America downgraded Phillips 66 from a “buy” rating to a “neutral” rating and lifted their target price for the company from $132.00 to $141.00 in a research note on Tuesday, August 15th. Piper Sandler lifted their price objective on shares of Phillips 66 from $130.00 to $136.00 in a research note on Friday, August 4th. Argus increased their target price on shares of Phillips 66 from $125.00 to $134.00 and gave the company a “buy” rating in a research report on Monday, August 14th. StockNews.com initiated coverage on shares of Phillips 66 in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company upped their price target on shares of Phillips 66 from $111.00 to $130.00 and gave the stock an “overweight” rating in a research note on Thursday, August 3rd. Six equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $128.53.

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.