Phillips 66 (NYSE:PSX) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund trimmed its holdings in Phillips 66 (NYSE:PSX) by 65.7% during the third quarter, Holdings Channel reports. The institutional investor owned 145,000 shares of the oil and gas company’s stock after selling 278,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Phillips 66 were worth $19,060,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cynosure Group LLC purchased a new stake in Phillips 66 in the third quarter valued at approximately $201,000. Townsquare Capital LLC boosted its holdings in shares of Phillips 66 by 6.3% in the 3rd quarter. Townsquare Capital LLC now owns 24,125 shares of the oil and gas company’s stock valued at $3,171,000 after purchasing an additional 1,427 shares during the last quarter. Transamerica Financial Advisors Inc. grew its stake in shares of Phillips 66 by 45.7% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 1,674 shares of the oil and gas company’s stock valued at $220,000 after buying an additional 525 shares during the period. Avestar Capital LLC increased its holdings in shares of Phillips 66 by 5.1% during the 3rd quarter. Avestar Capital LLC now owns 1,885 shares of the oil and gas company’s stock worth $248,000 after buying an additional 92 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Phillips 66 in the 3rd quarter worth $4,511,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Performance

Shares of NYSE PSX opened at $133.35 on Friday. Phillips 66 has a 12-month low of $117.74 and a 12-month high of $174.08. 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 company has a market cap of $55.07 billion, a PE ratio of 17.12, a P/E/G ratio of 4.35 and a beta of 1.33. The stock has a 50 day simple moving average of $130.60 and a 200-day simple moving average of $135.06.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The company’s quarterly revenue was down 10.3% compared to the same quarter last year. During the same period last year, the company earned $4.63 earnings per share. On average, equities research analysts forecast that Phillips 66 will post 7.66 EPS for the current year.

Phillips 66 Announces Dividend

The business 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 is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.45%. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PSX shares. TD Cowen dropped their price target on Phillips 66 from $162.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Piper Sandler set a $144.00 price target on Phillips 66 in a report on Thursday, October 17th. Mizuho dropped their price objective on Phillips 66 from $154.00 to $150.00 and set a “neutral” rating on the stock in a report on Monday, September 16th. Bank of America started coverage on Phillips 66 in a research report on Thursday, October 17th. They issued a “buy” rating and a $156.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price target on shares of Phillips 66 from $160.00 to $141.00 and set an “overweight” rating for the company in a research note on Wednesday, October 2nd. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $149.69.

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.