Natixis Advisors LLC Sells 12,917 Shares of Phillips 66 $PSX

Key Points

• Natixis Advisors LLC trimmed its Phillips 66 stake by 6.5% in the fourth quarter, selling 12,917 shares and leaving it with 186,915 shares valued at about $24.1 million.
• Institutional ownership remains high, with several major funds making large moves in PSX and 76.93% of the stock now held by institutional investors.
• Analyst sentiment is mixed but constructive: Phillips 66 has a Moderate Buy consensus with an average price target of $191.28, while recent quarter results beat EPS expectations and the company continues to pay a quarterly dividend of $1.27 per share.

Natixis Advisors LLC reduced its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 6.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 186,915 shares of the oil and gas company's stock after selling 12,917 shares during the quarter. Natixis Advisors LLC's holdings in Phillips 66 were worth $24,119,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Phillips 66 by 11.6% in the 3rd quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company's stock valued at $7,035,574,000 after acquiring an additional 5,356,558 shares in the last quarter. Norges Bank acquired a new position in Phillips 66 in the 4th quarter valued at $640,206,000. M&T Bank Corp raised its holdings in Phillips 66 by 462.9% in the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company's stock valued at $352,007,000 after acquiring an additional 2,243,268 shares in the last quarter. AQR Capital Management LLC raised its holdings in Phillips 66 by 424.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company's stock valued at $257,512,000 after acquiring an additional 1,532,389 shares in the last quarter. Finally, Worldquant Millennium Advisors LLC acquired a new position in Phillips 66 in the 2nd quarter valued at $107,967,000. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Raymond James Financial lifted their price objective on Phillips 66 from $205.00 to $215.00 in a report on Thursday, April 30th. Citigroup lifted their price objective on Phillips 66 from $159.00 to $183.00 and gave the company a "neutral" rating in a report on Thursday, April 9th. Mizuho raised Phillips 66 from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $170.00 to $212.00 in a report on Wednesday, May 27th. The Goldman Sachs Group lifted their price objective on Phillips 66 from $192.00 to $207.00 and gave the company a "neutral" rating in a report on Tuesday, May 19th. Finally, Wall Street Zen cut Phillips 66 from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 16th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $191.28.

Insiders Place Their Bets

In other Phillips 66 news, Director Kevin Omar Meyers purchased 175 shares of the firm's stock in a transaction dated Wednesday, May 6th. The shares were bought at an average price of $173.12 per share, for a total transaction of $30,296.00. Following the purchase, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian Mandell sold 42,800 shares of Phillips 66 stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total value of $7,255,884.00. Following the completion of the transaction, the executive vice president owned 61,595 shares in the company, valued at approximately $10,442,200.35. The trade was a 41.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 92,229 shares of company stock worth $15,990,030. 0.40% of the stock is currently owned by company insiders.

Phillips 66 Trading Down 0.3%

Shares of PSX opened at $184.14 on Friday. Phillips 66 has a 52-week low of $111.37 and a 52-week high of $190.61. The business's fifty day moving average is $172.71 and its 200-day moving average is $155.98. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The firm has a market cap of $73.83 billion, a price-to-earnings ratio of 18.14, a PEG ratio of 0.27 and a beta of 0.68.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion for the quarter, compared to analyst estimates of $35.86 billion. During the same quarter last year, the company posted ($0.90) EPS. The company's revenue for the quarter was up 6.9% compared to the same quarter last year. Equities analysts anticipate that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were paid a $1.27 dividend. The ex-dividend date was Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.8%. Phillips 66's dividend payout ratio (DPR) is presently 50.05%.

Phillips 66 Company Profile

Phillips 66 NYSE: PSX is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company's principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.

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