Candriam S.C.A. Trims Position in Phillips 66 $PSX

Key Points

• Candriam S.C.A. reduced its position in Phillips 66 by 12.6%, leaving it with 26,272 shares valued at approximately $3.24 million.
• Analysts have mixed ratings on Phillips 66, with a consensus rating of "Moderate Buy" and an average target price of $136.20.
• Phillips 66 recently announced a quarterly dividend of $1.20, representing a 3.7% yield, with a payout ratio of 115.38%.

Candriam S.C.A. lessened its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 12.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,272 shares of the oil and gas company's stock after selling 3,790 shares during the period. Candriam S.C.A.'s holdings in Phillips 66 were worth $3,244,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Capital Analysts LLC raised its holdings in shares of Phillips 66 by 9.1% during the 1st quarter. Capital Analysts LLC now owns 2,236 shares of the oil and gas company's stock worth $276,000 after acquiring an additional 186 shares during the period. Level Four Advisory Services LLC raised its holdings in shares of Phillips 66 by 15.6% during the 1st quarter. Level Four Advisory Services LLC now owns 43,307 shares of the oil and gas company's stock worth $5,348,000 after acquiring an additional 5,849 shares during the period. Erste Asset Management GmbH purchased a new position in shares of Phillips 66 during the 1st quarter worth $779,000. Venture Visionary Partners LLC raised its holdings in shares of Phillips 66 by 0.6% during the 1st quarter. Venture Visionary Partners LLC now owns 70,592 shares of the oil and gas company's stock worth $8,717,000 after acquiring an additional 409 shares during the period. Finally, Credit Agricole S A raised its holdings in shares of Phillips 66 by 2.9% during the 1st quarter. Credit Agricole S A now owns 159,929 shares of the oil and gas company's stock worth $19,748,000 after acquiring an additional 4,447 shares during the period. Hedge funds and other institutional investors own 76.93% of the company's stock.

Insider Buying and Selling

In related news, Director Gregory Hayes acquired 8,350 shares of the stock in a transaction dated Thursday, August 14th. The stock was acquired at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the transaction, the director owned 29,423 shares in the company, valued at $3,527,817.70. This represents a 39.62% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Sigmund L. Cornelius acquired 500 shares of the stock in a transaction dated Thursday, July 31st. The shares were bought at an average cost of $123.55 per share, with a total value of $61,775.00. Following the completion of the transaction, the director owned 21,543 shares of the company's stock, valued at approximately $2,661,637.65. This represents a 2.38% increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 9,850 shares of company stock worth $1,188,910 over the last 90 days. 0.22% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Evercore ISI assumed coverage on Phillips 66 in a research report on Wednesday, June 18th. They set an "outperform" rating and a $130.00 price objective for the company. TD Cowen raised their price objective on Phillips 66 from $130.00 to $134.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Tudor Pickering downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a research report on Thursday, May 22nd. Cantor Fitzgerald assumed coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a "neutral" rating for the company. Finally, Argus raised Phillips 66 to a "strong-buy" rating in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $136.20.

Phillips 66 Stock Performance

NYSE PSX opened at $129.8020 on Friday. The company has a market cap of $52.46 billion, a P/E ratio of 31.20, a P/E/G ratio of 1.68 and a beta of 1.09. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The stock has a 50-day moving average of $124.31 and a two-hundred day moving average of $119.05. Phillips 66 has a 1-year low of $91.01 and a 1-year high of $140.85.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating the consensus estimate of $1.79 by $0.59. The company had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period in the previous year, the company posted $2.31 EPS. As a group, analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be given a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's payout ratio is currently 115.38%.

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.

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