Mackenzie Financial Corp Has $4.84 Million Position in Phillips 66 (NYSE:PSX)

Mackenzie Financial Corp increased its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 14.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 42,439 shares of the oil and gas company's stock after purchasing an additional 5,233 shares during the period. Mackenzie Financial Corp's holdings in Phillips 66 were worth $4,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PSX. Price T Rowe Associates Inc. MD boosted its position in Phillips 66 by 283.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 6,026,649 shares of the oil and gas company's stock worth $686,618,000 after acquiring an additional 4,455,220 shares during the last quarter. Norges Bank purchased a new position in Phillips 66 during the fourth quarter worth about $497,648,000. Raymond James Financial Inc. purchased a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $168,790,000. Capitolis Liquid Global Markets LLC purchased a new stake in shares of Phillips 66 in the 4th quarter valued at approximately $142,185,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in shares of Phillips 66 by 157.6% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,541,240 shares of the oil and gas company's stock valued at $175,593,000 after acquiring an additional 942,922 shares during the period. Hedge funds and other institutional investors own 76.93% of the company's stock.

Analysts Set New Price Targets

PSX has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Phillips 66 from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Mizuho upped their target price on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. TD Cowen upped their target price on shares of Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. cut their target price on shares of Phillips 66 from $138.00 to $131.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 29th. Finally, UBS Group lowered their price target on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a report on Monday, April 28th. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Phillips 66 currently has an average rating of "Moderate Buy" and a consensus target price of $137.86.

Insider Transactions at Phillips 66

In other news, Director Robert W. Pease bought 439 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was acquired at an average cost of $113.85 per share, for a total transaction of $49,980.15. Following the completion of the purchase, the director now owns 4,091 shares of the company's stock, valued at $465,760.35. This trade represents a 12.02% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company's stock.

Phillips 66 Price Performance

Phillips 66 stock traded down $1.37 during midday trading on Friday, hitting $113.31. The company's stock had a trading volume of 4,559,842 shares, compared to its average volume of 3,016,339. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The stock's 50-day moving average price is $109.26 and its 200-day moving average price is $118.59. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The company has a market capitalization of $46.17 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 4.84 and a beta of 1.01.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.97). The business had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same period last year, the firm earned $1.90 EPS. Analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be given a dividend of $1.20 per share. The ex-dividend date is Monday, May 19th. This represents a $4.80 dividend on an annualized basis and a yield of 4.24%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's dividend payout ratio is presently 109.34%.

About Phillips 66

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.