Voya Investment Management LLC Decreases Stock Holdings in Phillips 66 $PSX

Voya Investment Management LLC cut its stake in Phillips 66 (NYSE:PSX) by 16.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 108,326 shares of the oil and gas company’s stock after selling 20,754 shares during the quarter. Voya Investment Management LLC’s holdings in Phillips 66 were worth $14,735,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Phillips 66 by 14.8% during the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after purchasing an additional 5,978,841 shares during the last quarter. Elliott Investment Management L.P. lifted its stake in Phillips 66 by 22.4% in the 2nd quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after buying an additional 3,526,000 shares in the last quarter. Geode Capital Management LLC grew its holdings in Phillips 66 by 17.4% during the 2nd quarter. Geode Capital Management LLC now owns 10,327,304 shares of the oil and gas company’s stock valued at $1,226,815,000 after buying an additional 1,532,967 shares during the last quarter. Bank of New York Mellon Corp increased its position in Phillips 66 by 6.1% during the second quarter. Bank of New York Mellon Corp now owns 9,394,750 shares of the oil and gas company’s stock worth $1,120,794,000 after buying an additional 537,245 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Phillips 66 in the second quarter valued at $523,755,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

NYSE:PSX opened at $129.06 on Tuesday. The company has a market cap of $52.00 billion, a P/E ratio of 35.26, a P/E/G ratio of 0.67 and a beta of 0.92. The firm’s 50 day moving average is $135.83 and its two-hundred day moving average is $130.24. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $144.96. The company has a quick ratio of 0.87, a current ratio of 1.23 and a debt-to-equity ratio of 0.68.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.38. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.The business had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. During the same period in the prior year, the firm posted $2.04 EPS. Analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Monday, November 17th were issued a dividend of $1.20 per share. The ex-dividend date was Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.7%. Phillips 66’s payout ratio is presently 131.15%.

Insider Buying and Selling

In other Phillips 66 news, EVP Brian Mandell sold 25,500 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $140.04, for a total transaction of $3,571,020.00. Following the completion of the sale, the executive vice president directly owned 56,838 shares in the company, valued at $7,959,593.52. The trade was a 30.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm’s stock in a transaction on Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the completion of the transaction, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. This represents a 11.27% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 86,093 shares of company stock valued at $11,933,256. 0.22% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Bank of America downgraded shares of Phillips 66 from a “buy” rating to a “neutral” rating and boosted their target price for the company from $144.00 to $147.00 in a research note on Wednesday, September 3rd. Jefferies Financial Group upped their price objective on shares of Phillips 66 from $133.00 to $137.00 and gave the company a “hold” rating in a research note on Friday, October 10th. Wolfe Research lifted their target price on shares of Phillips 66 from $158.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, December 5th. Raymond James Financial increased their price target on Phillips 66 from $153.00 to $169.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 25th. Finally, Wall Street Zen cut Phillips 66 from a “buy” rating to a “hold” rating in a report on Saturday. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $148.35.

Phillips 66 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.