Voya Investment Management LLC Lowers Position in Phillips 66 $PSX

Voya Investment Management LLC lessened its holdings in Phillips 66 (NYSE:PSX) by 48.1% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 96,007 shares of the oil and gas company’s stock after selling 89,037 shares during the period. Voya Investment Management LLC’s holdings in Phillips 66 were worth $11,855,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Pacific Center for Financial Services purchased a new stake in Phillips 66 during the fourth quarter valued at about $27,000. von Borstel & Associates Inc. purchased a new stake in Phillips 66 during the first quarter valued at about $27,000. Olde Wealth Management LLC purchased a new stake in Phillips 66 during the first quarter valued at about $28,000. Wood Tarver Financial Group LLC purchased a new stake in Phillips 66 during the fourth quarter valued at about $29,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Phillips 66 during the first quarter valued at about $29,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, Director Sigmund L. Cornelius bought 500 shares of the stock in a transaction dated Thursday, July 31st. The stock was purchased at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the completion of the acquisition, the director owned 21,543 shares of the company’s stock, valued at approximately $2,661,637.65. This trade represents a 2.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael A. Heim bought 1,000 shares of the stock in a transaction dated Wednesday, July 30th. The shares were acquired at an average price of $125.97 per share, with a total value of $125,970.00. Following the completion of the acquisition, the director directly owned 12,043 shares of the company’s stock, valued at approximately $1,517,056.71. The trade was a 9.06% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 9,850 shares of company stock valued at $1,188,910 over the last ninety days. Company insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Morgan Stanley raised their price target on Phillips 66 from $122.00 to $128.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 16th. Bank of America downgraded Phillips 66 from a “buy” rating to a “neutral” rating and raised their price target for the company from $144.00 to $147.00 in a research report on Wednesday, September 3rd. Compass Point assumed coverage on Phillips 66 in a research report on Wednesday, June 18th. They set a “buy” rating on the stock. Mizuho raised their price target on Phillips 66 from $140.00 to $142.00 and gave the company a “neutral” rating in a research report on Monday. Finally, Evercore ISI assumed coverage on Phillips 66 in a research note on Wednesday, June 18th. They set an “outperform” rating and a $130.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus price target of $136.67.

Phillips 66 Stock Performance

Phillips 66 stock opened at $133.02 on Wednesday. The stock’s 50 day simple moving average is $127.10 and its two-hundred day simple moving average is $119.59. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.79 and a current ratio of 1.07. The stock has a market cap of $53.76 billion, a price-to-earnings ratio of 31.98, a PEG ratio of 1.96 and a beta of 1.15. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $140.60.

Phillips 66 (NYSE:PSX) last released its earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a net margin of 1.27% and a return on equity of 4.87%. The firm had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same period last year, the business earned $2.31 earnings per share. As a group, analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Tuesday, August 19th were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Tuesday, August 19th. Phillips 66’s dividend payout ratio (DPR) is presently 115.38%.

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.