Phillips 66 (NYSE:PSX) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. trimmed its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 27.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 289,259 shares of the oil and gas company's stock after selling 108,797 shares during the quarter. Franklin Resources Inc. owned approximately 0.07% of Phillips 66 worth $39,171,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Synovus Financial Corp raised its stake in shares of Phillips 66 by 25.4% during the 3rd quarter. Synovus Financial Corp now owns 26,554 shares of the oil and gas company's stock worth $3,490,000 after buying an additional 5,376 shares during the period. Tidal Investments LLC raised its position in Phillips 66 by 11.8% during the third quarter. Tidal Investments LLC now owns 21,523 shares of the oil and gas company's stock worth $2,829,000 after acquiring an additional 2,274 shares during the period. Arvest Bank Trust Division acquired a new position in Phillips 66 during the third quarter worth $1,008,000. World Investment Advisors LLC purchased a new position in Phillips 66 during the third quarter valued at $796,000. Finally, Advisory Resource Group grew its position in shares of Phillips 66 by 4.3% in the third quarter. Advisory Resource Group now owns 241,527 shares of the oil and gas company's stock valued at $31,749,000 after purchasing an additional 9,930 shares during the period. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

PSX traded down $3.97 on Wednesday, reaching $111.86. The company had a trading volume of 4,206,991 shares, compared to its average volume of 2,672,316. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. Phillips 66 has a 1 year low of $111.71 and a 1 year high of $174.08. The stock has a market capitalization of $46.20 billion, a PE ratio of 14.36, a P/E/G ratio of 4.06 and a beta of 1.35. The stock has a 50-day moving average price of $128.63 and a 200-day moving average price of $133.32.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.41. The firm had revenue of $36.16 billion during the quarter, compared to analysts' expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business's revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.63 EPS. As a group, research analysts forecast that Phillips 66 will post 7.56 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a $1.15 dividend. The ex-dividend date was Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 4.11%. Phillips 66's payout ratio is 59.05%.

Wall Street Analyst Weigh In

Several research firms have commented on PSX. Bank of America assumed coverage on Phillips 66 in a research note on Thursday, October 17th. They set a "buy" rating and a $156.00 price objective for the company. Morgan Stanley dropped their price objective on shares of Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating for the company in a research note on Monday, September 16th. TD Cowen decreased their target price on shares of Phillips 66 from $162.00 to $150.00 and set a "buy" rating on the stock in a research note on Wednesday, September 11th. UBS Group lowered their target price on Phillips 66 from $150.00 to $138.00 and set a "buy" rating on the stock in a report on Monday, November 4th. Finally, JPMorgan Chase & Co. cut their target price on 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 investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $149.00.

Phillips 66 Company 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.