Phillips 66 (NYSE:PSX) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lessened its stake in shares of Phillips 66 (NYSE:PSX) by 48.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 595,738 shares of the oil and gas company’s stock after selling 549,852 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Phillips 66 were worth $67,872,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Morse Asset Management Inc acquired a new position in shares of Phillips 66 in the third quarter valued at approximately $493,000. Invst LLC boosted its holdings in shares of Phillips 66 by 2.4% during the third quarter. Invst LLC now owns 6,201 shares of the oil and gas company’s stock worth $815,000 after purchasing an additional 145 shares during the last quarter. Advisory Resource Group increased its position in Phillips 66 by 4.3% during the third quarter. Advisory Resource Group now owns 241,527 shares of the oil and gas company’s stock worth $31,749,000 after purchasing an additional 9,930 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of Phillips 66 in the 3rd quarter worth about $796,000. Finally, Arvest Bank Trust Division purchased a new stake in Phillips 66 during the 3rd quarter worth $1,008,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Up 2.4 %

Shares of PSX stock opened at $98.88 on Friday. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $159.25. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $40.29 billion, a P/E ratio of 20.02, a price-to-earnings-growth ratio of 4.84 and a beta of 1.17. The firm’s fifty day simple moving average is $118.36 and its 200 day simple moving average is $122.44.

Phillips 66 (NYSE:PSX) last posted its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a return on equity of 8.58% and a net margin of 1.46%. During the same period in the prior year, the company posted $3.09 EPS. As a group, sell-side analysts predict that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio is currently 93.12%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. StockNews.com downgraded Phillips 66 from a “hold” rating to a “sell” rating in a research note on Sunday, March 2nd. Wells Fargo & Company increased their price target on Phillips 66 from $161.00 to $162.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. The Goldman Sachs Group cut shares of Phillips 66 from a “buy” rating to a “neutral” rating and set a $132.00 target price for the company. in a report on Thursday, March 27th. Finally, Wolfe Research upgraded shares of Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price for the company in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $142.00.

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.