Mutual of America Capital Management LLC Reduces Stake in Phillips 66 (NYSE:PSX)

Mutual of America Capital Management LLC reduced its stake in shares of Phillips 66 (NYSE:PSX) by 5.5% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 58,924 shares of the oil and gas company’s stock after selling 3,432 shares during the period. Mutual of America Capital Management LLC’s holdings in Phillips 66 were worth $7,845,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Bornite Capital Management LP purchased a new position in Phillips 66 in the 1st quarter valued at about $8,639,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Phillips 66 by 316.2% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 6,597 shares of the oil and gas company’s stock valued at $570,000 after purchasing an additional 5,012 shares during the last quarter. Synovus Financial Corp increased its holdings in Phillips 66 by 5.1% in the 1st quarter. Synovus Financial Corp now owns 16,257 shares of the oil and gas company’s stock valued at $1,405,000 after purchasing an additional 788 shares during the last quarter. Cibc World Market Inc. increased its holdings in Phillips 66 by 61.9% in the 1st quarter. Cibc World Market Inc. now owns 7,236 shares of the oil and gas company’s stock valued at $625,000 after purchasing an additional 2,766 shares during the last quarter. Finally, Blair William & Co. IL increased its holdings in Phillips 66 by 103.8% in the 1st quarter. Blair William & Co. IL now owns 53,538 shares of the oil and gas company’s stock valued at $4,625,000 after purchasing an additional 27,267 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a report on Monday, April 1st. Raymond James boosted their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. The Goldman Sachs Group boosted their price target on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Scotiabank boosted their price target on shares of Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research note on Thursday. Finally, Wells Fargo & Company boosted their price target on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $156.86.

Insider Activity

In other news, Director Robert W. Pease acquired 682 shares of Phillips 66 stock in a transaction that occurred on Thursday, February 15th. The shares were acquired at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the purchase, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, Director Robert W. Pease purchased 682 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were bought at an average price of $146.58 per share, with a total value of $99,967.56. Following the completion of the purchase, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the transaction, the executive vice president now directly owns 24,941 shares in the company, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders have sold 35,056 shares of company stock worth $5,272,681 over the last ninety days. 4.57% of the stock is currently owned by insiders.

Phillips 66 Price Performance

Shares of PSX opened at $165.47 on Friday. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The stock has a market cap of $70.79 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of 2.07 and a beta of 1.37. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.26 and a quick ratio of 1.02. The firm has a fifty day moving average price of $153.03 and a 200 day moving average price of $133.76.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The business had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. As a group, sell-side analysts anticipate that Phillips 66 will post 13.3 EPS for the current year.

Phillips 66 Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be given a $1.15 dividend. The ex-dividend date of this dividend is Friday, May 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.05. This represents a $4.60 annualized dividend and a dividend yield of 2.78%. Phillips 66’s dividend payout ratio is currently 27.15%.

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.