MetLife Investment Management LLC Has $13.25 Million Stock Holdings in Phillips 66 $PSX

Key Points

• MetLife Investment Management LLC reduced its stake in Phillips 66 by 1.9%, now holding approximately $13.25 million worth of the company's shares.
• Phillips 66 recently reported $2.38 EPS for the last quarter, exceeding analyst expectations and achieving revenue of $33.77 billion.
• The company declared a quarterly dividend of $1.20 per share, representing a 3.7% yield and a dividend payout ratio of 115.38%.

MetLife Investment Management LLC lessened its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 1.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,261 shares of the oil and gas company's stock after selling 2,043 shares during the quarter. MetLife Investment Management LLC's holdings in Phillips 66 were worth $13,245,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. ICONIQ Capital LLC acquired a new position in shares of Phillips 66 during the first quarter valued at $250,000. Jump Financial LLC lifted its stake in shares of Phillips 66 by 307.1% during the first quarter. Jump Financial LLC now owns 11,276 shares of the oil and gas company's stock valued at $1,392,000 after acquiring an additional 8,506 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Phillips 66 by 0.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 35,467 shares of the oil and gas company's stock valued at $4,379,000 after acquiring an additional 219 shares during the period. AlphaQuest LLC lifted its stake in shares of Phillips 66 by 42.2% during the first quarter. AlphaQuest LLC now owns 5,984 shares of the oil and gas company's stock valued at $739,000 after acquiring an additional 1,776 shares during the period. Finally, Strategies Wealth Advisors LLC acquired a new position in shares of Phillips 66 during the first quarter valued at $468,000. Institutional investors and hedge funds own 76.93% of the company's stock.

Phillips 66 Trading Down 0.2%

NYSE PSX opened at $129.6760 on Tuesday. The firm has a market cap of $52.40 billion, a P/E ratio of 31.17, a P/E/G ratio of 1.76 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's 50-day moving average is $124.43 and its 200-day moving average is $119.07. Phillips 66 has a one year low of $91.01 and a one year high of $140.85.

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

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th will be given a dividend of $1.20 per share. The ex-dividend date of this dividend is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. Phillips 66's dividend payout ratio (DPR) is currently 115.38%.

Insider Activity at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total transaction of $571,090.00. Following the completion of the transaction, the executive vice president directly owned 43,373 shares in the company, valued at approximately $5,638,490. This trade represents a 9.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of Phillips 66 stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,104,750. This represents a 14.71% decrease in their position. The disclosure for this sale can be found here. Insiders have acquired a total of 9,850 shares of company stock valued at $1,188,910 over the last 90 days. Insiders own 0.22% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Barclays increased their target price on Phillips 66 from $115.00 to $127.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 9th. Argus raised Phillips 66 to a "strong-buy" rating in a research note on Thursday, July 31st. Wall Street Zen raised Phillips 66 from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. Scotiabank reissued a "sector perform" rating and issued a $133.00 target price on shares of Phillips 66 in a research note on Friday, July 11th. Finally, Piper Sandler reissued a "neutral" rating and issued a $145.00 target price (up previously from $144.00) on shares of Phillips 66 in a research note on Monday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $136.20.

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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