Plato Investment Management Ltd Sells 2,848 Shares of Phillips 66 (NYSE:PSX)

Plato Investment Management Ltd trimmed its stake in Phillips 66 (NYSE:PSX) by 55.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,327 shares of the oil and gas company’s stock after selling 2,848 shares during the period. Plato Investment Management Ltd’s holdings in Phillips 66 were worth $306,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of PSX. Van ECK Associates Corp boosted its stake in Phillips 66 by 263.3% in the third quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after purchasing an additional 60,355 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in Phillips 66 during the 2nd quarter worth about $17,670,000. M&G Plc bought a new stake in Phillips 66 during the 2nd quarter worth about $3,596,000. Cetera Investment Advisers increased its position in Phillips 66 by 318.9% in the 1st quarter. Cetera Investment Advisers now owns 142,548 shares of the oil and gas company’s stock valued at $23,284,000 after acquiring an additional 108,515 shares in the last quarter. Finally, Olympiad Research LP bought a new position in shares of Phillips 66 in the third quarter worth about $607,000. 76.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PSX has been the topic of a number of recent research reports. Scotiabank decreased their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley lowered 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 research report on Monday, September 16th. Raymond James increased their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. TD Cowen lowered their target price on shares of Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a report on Wednesday, September 11th. Finally, Wells Fargo & Company cut their target price on Phillips 66 from $182.00 to $167.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $149.69.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $130.91 on Friday. The company has a fifty day moving average price of $129.70 and a 200 day moving average price of $135.96. Phillips 66 has a 1-year low of $111.90 and a 1-year high of $174.08. The firm has a market cap of $54.06 billion, a PE ratio of 16.80, a PEG ratio of 4.26 and a beta of 1.33. The company has a current ratio of 1.21, a quick ratio of 0.83 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm’s revenue for the quarter was down 10.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.63 earnings per share. Research analysts predict that Phillips 66 will post 7.63 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be paid a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 annualized dividend and a dividend yield of 3.51%. Phillips 66’s dividend payout ratio is presently 59.05%.

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.