Axa lessened its holdings in Phillips 66 (NYSE:PSX) by 8.9% in the 4th quarter, Holdings Channel reports. The firm owned 112,161 shares of the oil and gas company’s stock after selling 10,908 shares during the quarter. Axa’s holdings in Phillips 66 were worth $11,345,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in Phillips 66 by 0.4% during the 4th quarter. BlackRock Inc. now owns 27,591,121 shares of the oil and gas company’s stock worth $2,790,841,000 after acquiring an additional 119,373 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Phillips 66 by 3.8% during the 4th quarter. Bank of New York Mellon Corp now owns 7,098,574 shares of the oil and gas company’s stock worth $718,021,000 after acquiring an additional 260,478 shares during the last quarter. Geode Capital Management LLC lifted its position in Phillips 66 by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 4,266,192 shares of the oil and gas company’s stock worth $430,564,000 after acquiring an additional 114,191 shares during the last quarter. Boston Partners lifted its position in Phillips 66 by 0.4% during the 3rd quarter. Boston Partners now owns 3,107,739 shares of the oil and gas company’s stock worth $284,700,000 after acquiring an additional 11,610 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Phillips 66 by 1.2% during the 3rd quarter. Legal & General Group Plc now owns 2,769,247 shares of the oil and gas company’s stock worth $253,691,000 after acquiring an additional 33,298 shares during the last quarter. 76.86% of the stock is owned by institutional investors and hedge funds.
Shares of Phillips 66 (NYSE:PSX) opened at $95.91 on Monday. The firm has a market cap of $48,070.00, a PE ratio of 20.90, a P/E/G ratio of 1.56 and a beta of 1.18. Phillips 66 has a 52 week low of $75.14 and a 52 week high of $107.47. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.42 and a quick ratio of 1.09.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Tuesday, February 20th were paid a $0.70 dividend. The ex-dividend date was Friday, February 16th. This represents a $2.80 dividend on an annualized basis and a yield of 2.92%. Phillips 66’s payout ratio is currently 61.00%.
A number of research firms have weighed in on PSX. Citigroup boosted their target price on shares of Phillips 66 from $90.00 to $110.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 24th. Piper Jaffray Companies reissued a “buy” rating and set a $115.00 target price on shares of Phillips 66 in a research report on Monday, January 22nd. Royal Bank of Canada reaffirmed a “hold” rating and set a $106.00 price objective on shares of Phillips 66 in a research report on Tuesday, January 30th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Phillips 66 in a research report on Thursday, January 11th. Finally, Credit Suisse Group started coverage on shares of Phillips 66 in a research report on Wednesday, January 3rd. They set a “neutral” rating and a $108.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company. Phillips 66 presently has a consensus rating of “Hold” and an average price target of $104.02.
In related news, VP Chukwuemeka A. Oyolu sold 2,700 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $100.25, for a total value of $270,675.00. Following the sale, the vice president now owns 2,700 shares of the company’s stock, valued at $270,675. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.50% of the company’s stock.
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About Phillips 66
Phillips 66 is an energy manufacturing and logistics company with midstream, chemicals, refining, and marketing and specialties businesses. The Company operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment gathers, processes, transports and markets natural gas, and transports, stores, fractionates and markets natural gas liquids (NGLs) in the United States.
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