Phillips 66 (NYSE:PSX) Shares Sold by Man Group plc

Man Group plc decreased its holdings in Phillips 66 (NYSE:PSX - Free Report) by 92.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,517 shares of the oil and gas company's stock after selling 86,154 shares during the quarter. Man Group plc's holdings in Phillips 66 were worth $856,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. NewEdge Wealth LLC boosted its stake in shares of Phillips 66 by 0.5% in the fourth quarter. NewEdge Wealth LLC now owns 15,199 shares of the oil and gas company's stock valued at $1,732,000 after purchasing an additional 81 shares during the period. JBR Co Financial Management Inc lifted its stake in Phillips 66 by 0.9% in the fourth quarter. JBR Co Financial Management Inc now owns 9,520 shares of the oil and gas company's stock worth $1,085,000 after acquiring an additional 85 shares during the last quarter. Nwam LLC lifted its stake in Phillips 66 by 2.2% in the fourth quarter. Nwam LLC now owns 3,876 shares of the oil and gas company's stock worth $442,000 after acquiring an additional 85 shares during the last quarter. Webster Bank N. A. lifted its stake in Phillips 66 by 48.4% in the fourth quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company's stock worth $31,000 after acquiring an additional 88 shares during the last quarter. Finally, PFG Private Wealth Management LLC lifted its stake in Phillips 66 by 7.7% in the fourth quarter. PFG Private Wealth Management LLC now owns 1,233 shares of the oil and gas company's stock worth $140,000 after acquiring an additional 88 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PSX. Scotiabank decreased their price target on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. The Goldman Sachs Group downgraded shares of Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 price target for the company. in a research note on Thursday, March 27th. Wells Fargo & Company decreased their price target on shares of Phillips 66 from $162.00 to $149.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. TD Cowen lifted their price target 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. Finally, Tudor Pickering downgraded shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Thursday, May 22nd. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Phillips 66 currently has a consensus rating of "Moderate Buy" and an average target price of $137.86.

Insider Activity

In other Phillips 66 news, Director Robert W. Pease bought 439 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average cost of $113.85 per share, with a total value of $49,980.15. Following the acquisition, the director now directly owns 4,091 shares of the company's stock, valued at $465,760.35. The trade was a 12.02% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.22% of the company's stock.

Phillips 66 Stock Up 0.7%

Shares of NYSE:PSX traded up $0.84 during trading on Thursday, hitting $113.61. 374,046 shares of the company were exchanged, compared to its average volume of 3,537,814. The stock has a market capitalization of $46.29 billion, a P/E ratio of 22.98, a PEG ratio of 4.84 and a beta of 1.01. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The firm's 50 day moving average price is $109.74 and its 200-day moving average price is $118.78.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing analysts' consensus estimates of $0.07 by ($0.97). The business had revenue of $31.92 billion during the quarter, compared to analyst estimates 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 in the previous year, the firm earned $1.90 earnings per share. On average, research analysts predict that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Monday, May 19th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 4.22%. This is a boost from Phillips 66's previous quarterly dividend of $1.15. The ex-dividend date is Monday, May 19th. Phillips 66's payout ratio is presently 109.34%.

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.