Canada Pension Plan Investment Board Has $67.87 Million Stake in Phillips 66 (NYSE:PSX)

Canada Pension Plan Investment Board decreased its stake in Phillips 66 (NYSE:PSX - Free Report) by 48.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 595,738 shares of the oil and gas company's stock after selling 549,852 shares during the quarter. Canada Pension Plan Investment Board owned 0.14% of Phillips 66 worth $67,872,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. Bogart Wealth LLC raised its position in shares of Phillips 66 by 120.0% in the 4th quarter. Bogart Wealth LLC now owns 220 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 120 shares during the period. J.Safra Asset Management Corp acquired a new stake in Phillips 66 in the fourth quarter worth $25,000. Stephens Consulting LLC boosted its position in shares of Phillips 66 by 83.5% during the fourth quarter. Stephens Consulting LLC now owns 244 shares of the oil and gas company's stock worth $28,000 after purchasing an additional 111 shares in the last quarter. Graney & King LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at $28,000. Finally, Human Investing LLC bought a new stake in shares of Phillips 66 in the 4th quarter valued at $30,000. Institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Performance

Shares of PSX traded up $1.90 during mid-day trading on Wednesday, reaching $102.80. The company's stock had a trading volume of 3,049,721 shares, compared to its average volume of 3,647,491. 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 has a 1-year low of $91.01 and a 1-year high of $158.38. The business has a 50-day simple moving average of $117.31 and a two-hundred day simple moving average of $121.80. The stock has a market cap of $41.88 billion, a P/E ratio of 20.81, a PEG ratio of 4.84 and a beta of 1.17.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $1.23 by ($1.38). Phillips 66 had a net margin of 1.46% and a return on equity of 8.58%. During the same quarter in the prior year, the business earned $3.09 earnings per share. As a group, equities research analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Investors of record on Monday, May 19th will be issued a dividend of $1.20 per share. This is a boost from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a yield of 4.67%. The ex-dividend date of this dividend is Monday, May 19th. Phillips 66's dividend payout ratio (DPR) is presently 93.12%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PSX shares. Wolfe Research upgraded Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 target price on the stock in a report on Friday, January 3rd. Raymond James cut their price objective on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. StockNews.com lowered Phillips 66 from a "hold" rating to a "sell" rating in a research report on Sunday, March 2nd. Scotiabank dropped their target price on shares of Phillips 66 from $136.00 to $133.00 and set a "sector outperform" rating on the stock in a report on Friday, April 11th. Finally, Wells Fargo & Company upped their target price on shares of Phillips 66 from $161.00 to $162.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, Phillips 66 has an average rating of "Moderate Buy" and an average price target of $142.00.

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.