Man Group plc Sells 86,154 Shares of Phillips 66 (NYSE:PSX)

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

Several other large investors have also recently modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in shares of Phillips 66 by 7.3% in the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company's stock worth $1,064,601,000 after buying an additional 639,323 shares during the period. Geode Capital Management LLC increased its holdings in shares of Phillips 66 by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 8,530,242 shares of the oil and gas company's stock worth $968,844,000 after buying an additional 82,758 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Phillips 66 by 283.5% in 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 buying an additional 4,455,220 shares during the period. Northern Trust Corp grew its stake in shares of Phillips 66 by 10.6% in the fourth quarter. Northern Trust Corp now owns 4,589,079 shares of the oil and gas company's stock worth $522,834,000 after purchasing an additional 440,107 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Phillips 66 in the fourth quarter worth about $497,648,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Up 1.0%

Shares of PSX stock traded up $1.15 during trading hours on Tuesday, hitting $114.28. 2,832,653 shares of the company's stock traded hands, compared to its average volume of 3,002,683. The stock's fifty day simple moving average is $110.28 and its two-hundred day simple moving average is $118.86. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $150.12. The stock has a market cap of $46.56 billion, a price-to-earnings ratio of 23.13, a PEG ratio of 4.84 and a beta of 1.01. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data 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). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. The firm had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. During the same quarter last year, the company posted $1.90 EPS. On average, analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Monday, May 19th will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 4.20%. The ex-dividend date is Monday, May 19th. This is a positive change from Phillips 66's previous quarterly dividend of $1.15. Phillips 66's payout ratio is currently 109.34%.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. The Goldman Sachs Group cut Phillips 66 from a "buy" rating to a "neutral" rating and set a $132.00 target price on the stock. in a research note on Thursday, March 27th. Barclays raised their target price on Phillips 66 from $106.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Monday, May 12th. TD Cowen raised their target price on Phillips 66 from $114.00 to $120.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Morgan Stanley cut their target price on Phillips 66 from $140.00 to $122.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. Finally, UBS Group cut their target price on Phillips 66 from $144.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has a consensus rating of "Moderate Buy" and a consensus target price of $137.86.

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.