Legal & General Group Plc Has $267.55 Million Position in Phillips 66 $PSX

Legal & General Group Plc cut its stake in shares of Phillips 66 (NYSE:PSX) by 3.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,242,639 shares of the oil and gas company’s stock after selling 68,513 shares during the quarter. Legal & General Group Plc owned approximately 0.55% of Phillips 66 worth $267,547,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in PSX. Brighton Jones LLC lifted its holdings in Phillips 66 by 238.5% during the 4th quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company’s stock valued at $1,166,000 after purchasing an additional 7,214 shares during the last quarter. PFG Advisors increased its holdings in shares of Phillips 66 by 24.7% during the first quarter. PFG Advisors now owns 2,962 shares of the oil and gas company’s stock worth $366,000 after buying an additional 586 shares in the last quarter. AE Wealth Management LLC raised its stake in shares of Phillips 66 by 1.6% in the first quarter. AE Wealth Management LLC now owns 8,503 shares of the oil and gas company’s stock valued at $1,050,000 after acquiring an additional 134 shares during the last quarter. Journey Strategic Wealth LLC acquired a new position in shares of Phillips 66 in the 1st quarter worth approximately $202,000. Finally, Lifeworks Advisors LLC bought a new stake in Phillips 66 during the 1st quarter worth approximately $224,000. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the transaction, the chief financial officer directly owned 89,771 shares in the company, valued at approximately $12,388,398. The trade was a 25.05% decrease in their position. 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 stock in a transaction that occurred 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 sale, the executive vice president owned 34,587 shares in the company, valued at $4,842,180. This represents a 11.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 64,986 shares of company stock worth $8,955,291. 0.22% of the stock is owned by insiders.

Phillips 66 Stock Up 1.4%

Shares of NYSE:PSX opened at $133.78 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The stock has a market cap of $53.90 billion, a price-to-earnings ratio of 36.55, a P/E/G ratio of 1.81 and a beta of 1.08. The company has a 50 day moving average of $134.33 and a 200-day moving average of $127.08. Phillips 66 has a one year low of $91.01 and a one year high of $143.25.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.38. Phillips 66 had a net margin of 1.12% and a return on equity of 5.51%. The business had revenue of $33.69 billion for the quarter, compared to analyst estimates of $32.29 billion. During the same period in the prior year, the business posted $2.04 earnings per share. On average, sell-side analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a dividend of $1.20 per share. The ex-dividend date of this dividend is Monday, November 17th. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.6%. Phillips 66’s payout ratio is 131.15%.

Analyst Ratings Changes

Several brokerages have issued reports on PSX. Cowen reiterated a “buy” rating on shares of Phillips 66 in a research report on Thursday, October 30th. Wells Fargo & Company upped their price target on shares of Phillips 66 from $154.00 to $162.00 and gave the stock an “overweight” rating in a research report on Thursday, October 30th. Wall Street Zen raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Raymond James Financial reaffirmed an “outperform” rating and issued a $150.00 target price (up from $145.00) on shares of Phillips 66 in a research note on Friday, October 17th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $145.71.

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.