National Pension Service Boosts Holdings in Phillips 66 $PSX

National Pension Service raised its holdings in shares of Phillips 66 (NYSE:PSX) by 2.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 614,059 shares of the oil and gas company’s stock after acquiring an additional 11,960 shares during the quarter. National Pension Service’s holdings in Phillips 66 were worth $79,238,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Board of the Pension Protection Fund purchased a new stake in Phillips 66 during the fourth quarter valued at about $26,000. Accordant Advisory Group Inc lifted its holdings in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 180 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in Phillips 66 during the fourth quarter valued at about $27,000. Stephens Consulting LLC lifted its holdings in Phillips 66 by 67.7% during the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock valued at $29,000 after purchasing an additional 90 shares during the last quarter. Finally, Dorato Capital Management purchased a new stake in Phillips 66 during the fourth quarter valued at about $35,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Trading Down 0.5%

Shares of PSX opened at $175.79 on Friday. The business’s 50-day moving average price is $172.38 and its 200-day moving average price is $154.66. Phillips 66 has a twelve month low of $111.19 and a twelve month high of $190.61. The stock has a market cap of $70.48 billion, a PE ratio of 17.32, a P/E/G ratio of 0.26 and a beta of 0.70. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same period in the prior year, the business posted ($0.90) earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. On average, equities analysts forecast that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Monday, May 18th will be given a dividend of $1.27 per share. The ex-dividend date is Monday, May 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.9%. Phillips 66’s dividend payout ratio is currently 50.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PSX shares. TD Cowen upped their price objective on shares of Phillips 66 from $155.00 to $213.00 and gave the company a “buy” rating in a report on Wednesday, April 1st. Piper Sandler upped their price objective on shares of Phillips 66 from $168.00 to $177.00 and gave the company a “neutral” rating in a report on Wednesday, April 8th. Raymond James Financial upped their price objective on shares of Phillips 66 from $205.00 to $215.00 in a report on Thursday, April 30th. Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Wall Street Zen downgraded shares of Phillips 66 from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $191.28.

Insider Buying and Selling

In related news, Director Lisa Ann Davis sold 3,800 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $174.37, for a total value of $662,606.00. Following the transaction, the director directly owned 8,701 shares in the company, valued at approximately $1,517,193.37. This represents a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Mandell sold 42,800 shares of the company’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $169.53, for a total transaction of $7,255,884.00. Following the completion of the transaction, the executive vice president owned 61,595 shares in the company, valued at approximately $10,442,200.35. This trade represents a 41.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 114,029 shares of company stock valued at $19,641,455. Corporate insiders own 0.40% of the company’s stock.

About Phillips 66

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.