The Manufacturers Life Insurance Company Sells 11,927 Shares of Phillips 66 (NYSE:PSX)

The Manufacturers Life Insurance Company reduced its holdings in Phillips 66 (NYSE:PSX - Free Report) by 3.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 311,180 shares of the oil and gas company's stock after selling 11,927 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of Phillips 66 worth $40,905,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Mizuho Securities USA LLC grew its holdings in shares of Phillips 66 by 7,549.0% during the third quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company's stock worth $328,625,000 after purchasing an additional 2,467,316 shares during the last quarter. ING Groep NV grew its holdings in Phillips 66 by 123.2% during the 3rd quarter. ING Groep NV now owns 1,182,980 shares of the oil and gas company's stock worth $155,503,000 after acquiring an additional 653,032 shares during the last quarter. Bank of Montreal Can grew its holdings in Phillips 66 by 63.4% during the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company's stock worth $214,120,000 after acquiring an additional 633,970 shares during the last quarter. Mizuho Markets Americas LLC acquired a new stake in Phillips 66 in the 3rd quarter valued at about $70,983,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Phillips 66 by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company's stock worth $1,189,035,000 after acquiring an additional 402,925 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Trading Up 0.5 %

PSX traded up $0.63 during mid-day trading on Friday, hitting $133.98. The stock had a trading volume of 1,402,341 shares, compared to its average volume of 2,657,253. The stock's fifty day simple moving average is $130.60 and its 200-day simple moving average is $135.06. The firm has a market capitalization of $55.33 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 4.35 and a beta of 1.33. Phillips 66 has a 1-year low of $119.77 and a 1-year high of $174.08. 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 issued its quarterly earnings data on Tuesday, October 29th. The oil and gas company reported $2.04 EPS for the quarter, topping the consensus estimate of $1.63 by $0.41. The business had revenue of $36.16 billion for the quarter, compared to the consensus estimate of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The firm's revenue was down 10.3% compared to the same quarter last year. During the same quarter last year, the business posted $4.63 EPS. As a group, research analysts forecast that Phillips 66 will post 7.66 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.43%. The ex-dividend date is Monday, November 18th. Phillips 66's dividend payout ratio (DPR) is presently 59.05%.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Morgan Stanley lowered their price target on shares of Phillips 66 from $150.00 to $144.00 and set an "equal weight" rating for the company in a report on Monday, September 16th. Bank of America started coverage on Phillips 66 in a research note on Thursday, October 17th. They issued a "buy" rating and a $156.00 target price for the company. TD Cowen cut their price target on Phillips 66 from $162.00 to $150.00 and set a "buy" rating on the stock in a research note on Wednesday, September 11th. Piper Sandler set a $144.00 price objective on Phillips 66 in a research report on Thursday, October 17th. Finally, Wells Fargo & Company cut their target price on shares of Phillips 66 from $182.00 to $167.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $149.69.

Phillips 66 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.