Mutual of America Capital Management LLC Sells 3,432 Shares of Phillips 66 (NYSE:PSX)

Mutual of America Capital Management LLC trimmed its stake in shares of Phillips 66 (NYSE:PSXFree Report) by 5.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,924 shares of the oil and gas company’s stock after selling 3,432 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Phillips 66 were worth $7,845,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSX. DekaBank Deutsche Girozentrale raised its stake in Phillips 66 by 12.4% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after purchasing an additional 22,278 shares in the last quarter. Eldred Rock Partners LLC acquired a new position in Phillips 66 during the fourth quarter worth about $10,402,000. Choate Investment Advisors acquired a new position in Phillips 66 during the third quarter worth about $247,000. First Dallas Securities Inc. acquired a new position in Phillips 66 during the third quarter worth about $753,000. Finally, TIAA Trust National Association raised its stake in Phillips 66 by 32.9% during the fourth quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after acquiring an additional 3,670 shares in the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Price Performance

Phillips 66 stock opened at $165.47 on Friday. The stock has a market capitalization of $70.79 billion, a price-to-earnings ratio of 10.70, a PEG ratio of 2.07 and a beta of 1.37. Phillips 66 has a 52-week low of $89.74 and a 52-week high of $174.08. The stock’s 50 day moving average price is $153.03 and its two-hundred day moving average price is $133.76. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26.

Phillips 66 (NYSE:PSXGet Free Report) last issued its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. The company had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. On average, equities analysts predict that Phillips 66 will post 13.3 earnings per share for the current year.

Phillips 66 Increases Dividend

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

Analysts Set New Price Targets

Several research analysts have commented on the company. Bank of America boosted their target price on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Scotiabank boosted their price target on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a report on Thursday. Raymond James boosted their price target on Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Piper Sandler boosted their price target on Phillips 66 from $169.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, April 5th. Finally, Wells Fargo & Company upped their target price on Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a report on Monday. Four research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $156.86.

Check Out Our Latest Report on PSX

Insider Activity at Phillips 66

In related news, Director Robert W. Pease purchased 682 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was acquired at an average cost of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now owns 1,900 shares of the company’s stock, valued at approximately $278,502. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Phillips 66 news, Director Robert W. Pease bought 682 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was purchased at an average cost of $146.58 per share, with a total value of $99,967.56. Following the transaction, the director now directly owns 1,900 shares in the company, valued at approximately $278,502. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Joseph Scott Pruitt sold 5,922 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $157.40, for a total value of $932,122.80. Following the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The disclosure for this sale can be found here. In the last three months, insiders sold 35,056 shares of company stock valued at $5,272,681. 4.57% of the stock is owned by insiders.

About Phillips 66

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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