Legal & General Group Plc Sells 1,073,756 Shares of Phillips 66 (NYSE:PSX)

Legal & General Group Plc lowered its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 31.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,296,372 shares of the oil and gas company's stock after selling 1,073,756 shares during the period. Legal & General Group Plc owned 0.56% of Phillips 66 worth $261,626,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSX. Oppenheimer & Co. Inc. grew its position in shares of Phillips 66 by 10.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 46,953 shares of the oil and gas company's stock valued at $5,349,000 after purchasing an additional 4,515 shares in the last quarter. Flavin Financial Services Inc. bought a new stake in Phillips 66 during the fourth quarter valued at $1,190,000. Everence Capital Management Inc. bought a new stake in Phillips 66 during the fourth quarter valued at $3,033,000. Donoghue Forlines LLC purchased a new position in Phillips 66 during the fourth quarter worth about $1,438,000. Finally, Smith Group Asset Management LLC bought a new position in Phillips 66 in the 4th quarter worth about $1,149,000. Institutional investors own 76.93% of the company's stock.

Phillips 66 Trading Down 0.0 %

Phillips 66 stock traded down $0.02 during trading hours on Monday, reaching $97.36. The stock had a trading volume of 447,331 shares, compared to its average volume of 2,877,854. The stock has a market cap of $39.69 billion, a PE ratio of 19.71, a PEG ratio of 4.84 and a beta of 1.17. The company has a fifty day simple moving average of $120.96 and a 200-day simple moving average of $123.50. 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 has a 52 week low of $91.01 and a 52 week high of $165.00.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, January 31st. The oil and gas company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 period in the previous year, the company posted $3.09 EPS. Analysts forecast that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 5th. Investors of record on Monday, February 24th were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 4.72%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66's dividend payout ratio (DPR) is currently 93.12%.

Analysts Set New Price Targets

PSX has been the subject of a number of research analyst reports. StockNews.com downgraded 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 for the company in a research report on Friday. Wolfe Research raised shares of Phillips 66 from a "peer perform" rating to an "outperform" rating and set a $143.00 price target on the stock in a report on Friday, January 3rd. Mizuho dropped their price objective on shares of Phillips 66 from $140.00 to $132.00 and set a "neutral" rating for the company in a report on Wednesday, April 9th. Finally, Piper Sandler cut Phillips 66 from a "strong-buy" rating to a "hold" rating in a research note on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.