Healthcare of Ontario Pension Plan Trust Fund Sells 278,000 Shares of Phillips 66 (NYSE:PSX)

Healthcare of Ontario Pension Plan Trust Fund trimmed its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 65.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,000 shares of the oil and gas company's stock after selling 278,000 shares during the quarter. 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.

A number of other institutional investors and hedge funds have also made changes to their positions in PSX. Cynosure Group LLC purchased a new position in Phillips 66 in the 3rd quarter valued at $201,000. Townsquare Capital LLC raised its position in Phillips 66 by 6.3% during the third quarter. Townsquare Capital LLC now owns 24,125 shares of the oil and gas company's stock worth $3,171,000 after acquiring an additional 1,427 shares during the last quarter. Transamerica Financial Advisors Inc. raised its position 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 worth $220,000 after purchasing an additional 525 shares during the last quarter. Avestar Capital LLC lifted its position in shares of Phillips 66 by 5.1% in the third quarter. Avestar Capital LLC now owns 1,885 shares of the oil and gas company's stock valued at $248,000 after acquiring an additional 92 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in Phillips 66 in the 3rd quarter valued at about $4,511,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of Phillips 66 stock traded up $0.67 on Friday, hitting $134.02. The company had a trading volume of 1,402,352 shares, compared to its average volume of 2,657,253. Phillips 66 has a 52 week low of $119.77 and a 52 week high of $174.08. The company has a market cap of $55.35 billion, a PE ratio of 17.20, a PEG ratio of 4.35 and a beta of 1.33. The business has a 50-day simple moving average of $130.68 and a 200-day simple moving average of $134.99. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.21 and a quick ratio of 0.83.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data 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 during 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 business's quarterly revenue was down 10.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.63 earnings per share. Research analysts expect that Phillips 66 will post 7.66 EPS for the current fiscal 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 $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.43%. Phillips 66's dividend payout ratio is currently 59.05%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PSX. Piper Sandler set a $144.00 price target on shares of Phillips 66 in a report on Thursday, October 17th. TD Cowen cut their price target on Phillips 66 from $162.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, September 11th. Bank of America started coverage on Phillips 66 in a research note on Thursday, October 17th. They set a "buy" rating and a $156.00 price target on the stock. Barclays lowered their price objective on Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating for the company in a research report on Monday, November 11th. Finally, Mizuho decreased their price target on Phillips 66 from $154.00 to $150.00 and set a "neutral" rating on the stock in a research note on Monday, September 16th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $149.69.

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.