Principal Financial Group Inc. Has $59 Million Stock Position in Phillips 66 (NYSE:PSX)

Principal Financial Group Inc. cut its holdings in Phillips 66 (NYSE:PSX) by 2.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 517,892 shares of the oil and gas company’s stock after selling 12,915 shares during the period. Principal Financial Group Inc. owned approximately 0.13% of Phillips 66 worth $59,003,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PSX. Van ECK Associates Corp grew its position in shares of Phillips 66 by 263.3% during the 3rd quarter. Van ECK Associates Corp now owns 83,278 shares of the oil and gas company’s stock worth $10,753,000 after purchasing an additional 60,355 shares in the last quarter. Flavin Financial Services Inc. bought a new stake in shares of Phillips 66 in the fourth quarter valued at approximately $1,190,000. Everence Capital Management Inc. acquired a new stake in Phillips 66 during the fourth quarter worth approximately $3,033,000. Donoghue Forlines LLC bought a new position in Phillips 66 during the 4th quarter worth $1,438,000. Finally, Mizuho Securities USA LLC raised its holdings in Phillips 66 by 7,549.0% in the 3rd quarter. Mizuho Securities USA LLC now owns 2,500,000 shares of the oil and gas company’s stock valued at $328,625,000 after acquiring an additional 2,467,316 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $130.12 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.83 and a current ratio of 1.21. Phillips 66 has a 52 week low of $108.90 and a 52 week high of $174.08. The firm has a market cap of $53.74 billion, a PE ratio of 26.34, a price-to-earnings-growth ratio of 4.71 and a beta of 1.37. The firm’s fifty day moving average is $118.90 and its 200-day moving average is $127.10.

Phillips 66 (NYSE:PSX) last announced 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 return on equity of 8.58% and a net margin of 1.46%. During the same period last year, the company earned $3.09 EPS. Sell-side analysts predict that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 5th. Shareholders of record on Monday, February 24th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date is Monday, February 24th. Phillips 66’s dividend payout ratio is presently 93.12%.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Mizuho reduced their target price on Phillips 66 from $150.00 to $147.00 and set a “neutral” rating on the stock in a report on Monday, December 16th. UBS Group reduced their price objective 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. Piper Sandler cut shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research report on Friday, January 10th. StockNews.com lowered shares of Phillips 66 from a “hold” rating to a “sell” rating in a research report on Friday, February 14th. Finally, Barclays lowered their price objective on shares of Phillips 66 from $124.00 to $115.00 and set an “equal weight” rating for the company in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $148.00.

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.