MetLife Investment Management LLC Sells 4,243 Shares of Phillips 66 (NYSE:PSX)

MetLife Investment Management LLC trimmed its holdings in Phillips 66 (NYSE:PSX - Free Report) by 3.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,832 shares of the oil and gas company's stock after selling 4,243 shares during the quarter. MetLife Investment Management LLC's holdings in Phillips 66 were worth $14,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of PSX. nVerses Capital LLC acquired a new stake in Phillips 66 in the 3rd quarter worth $26,000. Bank & Trust Co acquired a new stake in Phillips 66 during the second quarter worth about $31,000. Values First Advisors Inc. bought a new position in Phillips 66 during the third quarter valued at about $30,000. Opal Wealth Advisors LLC acquired a new position in Phillips 66 in the 2nd quarter valued at approximately $34,000. Finally, Fortitude Family Office LLC lifted its position in shares of Phillips 66 by 52.3% in the 2nd quarter. Fortitude Family Office LLC now owns 265 shares of the oil and gas company's stock worth $37,000 after acquiring an additional 91 shares during the period. Institutional investors and hedge funds own 76.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PSX. Raymond James upped their target price on Phillips 66 from $150.00 to $155.00 and gave the company an "outperform" rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price objective on shares of Phillips 66 from $160.00 to $141.00 and set an "overweight" rating for the company in a report on Wednesday, October 2nd. Barclays lowered their target price on shares of Phillips 66 from $133.00 to $124.00 and set an "equal weight" rating on the stock in a research note on Monday, November 11th. Mizuho decreased their price objective on Phillips 66 from $154.00 to $150.00 and set a "neutral" rating on the stock in a report on Monday, September 16th. Finally, Piper Sandler set a $144.00 price objective on Phillips 66 in a research note on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $149.69.

Phillips 66 Price Performance

Shares of PSX stock opened at $133.31 on Thursday. Phillips 66 has a 52 week low of $117.74 and a 52 week high of $174.08. The stock has a market capitalization of $55.06 billion, a PE ratio of 17.11, a PEG ratio of 4.40 and a beta of 1.33. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. The stock's fifty day moving average is $130.58 and its 200-day moving average is $135.07.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.41. Phillips 66 had a net margin of 2.24% and a return on equity of 13.12%. The firm had revenue of $36.16 billion for the quarter, compared to analyst estimates of $36.31 billion. During the same quarter in the prior year, the firm earned $4.63 EPS. The company's revenue was down 10.3% on a year-over-year basis. Equities research analysts expect that Phillips 66 will post 7.57 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Monday, November 18th. Phillips 66's dividend payout ratio (DPR) is presently 59.05%.

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.

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