Prudential Financial Inc. Has $56.31 Million Position in Phillips 66 (NYSE:PSX)

Prudential Financial Inc. cut its position in shares of Phillips 66 (NYSE:PSX) by 51.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 494,264 shares of the oil and gas company’s stock after selling 515,537 shares during the period. Prudential Financial Inc. owned 0.12% of Phillips 66 worth $56,311,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in Phillips 66 by 7.3% during the fourth quarter. Bank of New York Mellon Corp now owns 9,344,342 shares of the oil and gas company’s stock worth $1,064,601,000 after buying an additional 639,323 shares during the last quarter. Amundi boosted its stake in shares of Phillips 66 by 25.7% during the 4th quarter. Amundi now owns 3,682,414 shares of the oil and gas company’s stock worth $428,081,000 after acquiring an additional 753,653 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Phillips 66 by 3.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,002,995 shares of the oil and gas company’s stock worth $342,131,000 after acquiring an additional 101,108 shares during the last quarter. Bank of Montreal Can raised its stake in Phillips 66 by 63.4% in the 3rd quarter. Bank of Montreal Can now owns 1,633,876 shares of the oil and gas company’s stock valued at $214,120,000 after acquiring an additional 633,970 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Phillips 66 during the 4th quarter valued at $168,790,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Up 0.9 %

PSX stock opened at $126.56 on Tuesday. Phillips 66 has a 52 week low of $108.91 and a 52 week high of $174.08. The business has a 50-day simple moving average of $124.32 and a 200 day simple moving average of $125.58. The company has a quick ratio of 0.83, a current ratio of 1.21 and a debt-to-equity ratio of 0.62. The company has a market cap of $51.60 billion, a PE ratio of 25.62, a price-to-earnings-growth ratio of 4.84 and a beta of 1.31.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, January 31st. The oil and gas company reported ($0.15) EPS for the quarter, missing the consensus estimate 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 quarter last year, the firm earned $3.09 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.63%. The ex-dividend date of this dividend was Monday, February 24th. Phillips 66’s dividend payout ratio is presently 93.12%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PSX shares. Mizuho decreased their price objective on shares of Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. Wells Fargo & Company upped their price target on shares of Phillips 66 from $161.00 to $162.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Piper Sandler downgraded shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. Barclays upped their target price on Phillips 66 from $115.00 to $135.00 and gave the company an “equal weight” rating in a research report on Friday, March 14th. Finally, Wolfe Research upgraded Phillips 66 from a “peer perform” rating to an “outperform” rating and set a $143.00 target price on the stock in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $147.54.

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.