MetLife Investment Management LLC Has $14.31 Million Holdings in Phillips 66 (NYSE:PSX)

MetLife Investment Management LLC lessened its holdings in Phillips 66 (NYSE:PSX) by 3.8% during the 3rd quarter, Holdings Channel reports. The firm owned 108,832 shares of the oil and gas company’s stock after selling 4,243 shares during the period. MetLife Investment Management LLC’s holdings in Phillips 66 were worth $14,306,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PSX. Strategic Financial Concepts LLC bought a new position in Phillips 66 in the second quarter valued at approximately $26,000. nVerses Capital LLC bought a new position in shares of Phillips 66 in the 3rd quarter worth $26,000. Values First Advisors Inc. bought a new position in shares of Phillips 66 in the 3rd quarter worth $30,000. Bank & Trust Co acquired a new stake in shares of Phillips 66 during the second quarter worth $31,000. Finally, Opal Wealth Advisors LLC bought a new stake in Phillips 66 in the second quarter valued at about $34,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on PSX shares. Mizuho reduced their target price on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Piper Sandler set a $144.00 price objective on shares of Phillips 66 in a report on Thursday, October 17th. Wells Fargo & Company lowered their target price on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Morgan Stanley decreased their price target on shares of Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Finally, UBS Group dropped their price objective on Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $149.69.

Phillips 66 Stock Down 0.7 %

PSX stock opened at $133.31 on Thursday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83. The stock has a market capitalization of $55.06 billion, a P/E ratio of 17.11, a P/E/G ratio of 4.40 and a beta of 1.33. Phillips 66 has a fifty-two week low of $117.74 and a fifty-two week high of $174.08. The business has a 50-day moving average of $130.58 and a 200-day moving average of $135.07.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The business’s quarterly revenue was down 10.3% on a year-over-year basis. During the same period last year, the business earned $4.63 EPS. On average, sell-side analysts anticipate that Phillips 66 will post 7.57 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 Monday, December 2nd. Shareholders of record on Monday, November 18th will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Monday, November 18th. This represents a $4.60 annualized dividend and a yield of 3.45%. Phillips 66’s dividend payout ratio (DPR) is presently 59.05%.

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.