Gulf International Bank UK Ltd Cuts Stock Holdings in Phillips 66 (NYSE:PSX)

Gulf International Bank UK Ltd reduced its position in shares of Phillips 66 (NYSE:PSX) by 10.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,047 shares of the oil and gas company’s stock after selling 4,248 shares during the period. Gulf International Bank UK Ltd’s holdings in Phillips 66 were worth $4,947,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PSX. Norges Bank bought a new position in Phillips 66 in the fourth quarter worth about $559,435,000. Boston Partners increased its stake in shares of Phillips 66 by 962.0% during the fourth quarter. Boston Partners now owns 3,858,170 shares of the oil and gas company’s stock valued at $513,327,000 after purchasing an additional 3,494,878 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Phillips 66 by 38.0% during the first quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock valued at $1,309,954,000 after purchasing an additional 2,209,043 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Phillips 66 by 20.3% during the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after purchasing an additional 1,842,226 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Phillips 66 by 4.0% during the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after purchasing an additional 1,578,669 shares in the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Phillips 66 Stock Performance

Shares of Phillips 66 stock traded down $0.18 on Wednesday, hitting $132.90. 2,095,560 shares of the company’s stock were exchanged, compared to its average volume of 2,676,834. The company has a 50-day simple moving average of $138.45 and a 200-day simple moving average of $145.93. The stock has a market capitalization of $55.63 billion, a PE ratio of 10.22, a PEG ratio of 2.37 and a beta of 1.34. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.82 and a current ratio of 1.14.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.33. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business had revenue of $38.91 billion for the quarter, compared to analysts’ expectations of $37.79 billion. During the same quarter last year, the company posted $3.87 EPS. The company’s revenue was up 8.9% compared to the same quarter last year. As a group, equities analysts anticipate that Phillips 66 will post 9.5 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be given a dividend of $1.15 per share. The ex-dividend date is Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.46%. Phillips 66’s payout ratio is 35.38%.

Insider Activity

In other news, EVP Timothy D. Roberts sold 37,742 shares of the firm’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $145.80, for a total transaction of $5,502,783.60. Following the completion of the transaction, the executive vice president now owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PSX. Barclays raised their target price on shares of Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday. StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Wells Fargo & Company reduced their price target on shares of Phillips 66 from $180.00 to $176.00 and set an “overweight” rating for the company in a research report on Wednesday, July 31st. JPMorgan Chase & Co. reduced their price target on shares of Phillips 66 from $165.00 to $162.00 and set an “overweight” rating for the company in a research report on Tuesday, July 2nd. Finally, Raymond James raised their price target on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average price target of $157.38.

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.