Healthcare of Ontario Pension Plan Trust Fund Lowers Stock Holdings in Phillips 66 (NYSE:PSX)

Healthcare of Ontario Pension Plan Trust Fund cut its stake in shares of Phillips 66 (NYSE:PSX) by 65.7% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 145,000 shares of the oil and gas company’s stock after selling 278,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Phillips 66 were worth $19,060,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PSX. Bank of New York Mellon Corp grew its position in Phillips 66 by 5.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after buying an additional 402,925 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Phillips 66 by 0.5% in the 2nd quarter. Legal & General Group Plc now owns 3,699,370 shares of the oil and gas company’s stock worth $522,240,000 after acquiring an additional 18,238 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Phillips 66 by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock valued at $514,253,000 after acquiring an additional 111,261 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Phillips 66 by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,901,887 shares of the oil and gas company’s stock worth $381,453,000 after acquiring an additional 16,941 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Phillips 66 by 2.9% during the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,813,579 shares of the oil and gas company’s stock worth $397,193,000 after purchasing an additional 79,301 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Trading Down 0.7 %

Shares of Phillips 66 stock opened at $133.35 on Friday. Phillips 66 has a 1 year low of $117.74 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. The business has a 50 day moving average price of $130.60 and a 200 day moving average price of $135.06. The company has a market capitalization of $55.07 billion, a P/E ratio of 17.12, a P/E/G ratio of 4.35 and a beta of 1.33.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, October 29th. The oil and gas company reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $1.63 by $0.41. The company had revenue of $36.16 billion during the quarter, compared to analysts’ expectations of $36.31 billion. Phillips 66 had a return on equity of 13.12% and a net margin of 2.24%. The business’s revenue for the quarter was down 10.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $4.63 earnings per share. Sell-side analysts anticipate that Phillips 66 will post 7.66 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 18th will be issued a $1.15 dividend. The ex-dividend date is Monday, November 18th. This represents a $4.60 dividend on an annualized basis and a yield of 3.45%. Phillips 66’s dividend payout ratio (DPR) is 59.05%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PSX shares. Scotiabank lowered their price objective on Phillips 66 from $145.00 to $136.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. TD Cowen dropped their price objective on Phillips 66 from $162.00 to $150.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Barclays reduced their target price on Phillips 66 from $133.00 to $124.00 and set an “equal weight” rating for the company in a report on Monday, November 11th. UBS Group lowered their price target on shares of Phillips 66 from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Monday, November 4th. Finally, Wells Fargo & Company reduced their price objective on shares of Phillips 66 from $182.00 to $167.00 and set an “overweight” rating for the company in a research note on Wednesday, October 9th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $149.69.

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.