Phillips 66 $PSX Shares Bought by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund grew its position in Phillips 66 (NYSE:PSX) by 31.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,160 shares of the oil and gas company’s stock after buying an additional 11,011 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Phillips 66 were worth $6,279,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Evolution Wealth Management Inc. purchased a new position in Phillips 66 during the 2nd quarter valued at about $25,000. Wolff Wiese Magana LLC lifted its holdings in shares of Phillips 66 by 62.1% in the second quarter. Wolff Wiese Magana LLC now owns 214 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 82 shares in the last quarter. Webster Bank N. A. grew its position in shares of Phillips 66 by 58.8% in the second quarter. Webster Bank N. A. now owns 270 shares of the oil and gas company’s stock valued at $32,000 after purchasing an additional 100 shares during the last quarter. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Phillips 66 during the 2nd quarter worth approximately $32,000. Finally, Nova Wealth Management Inc. acquired a new position in shares of Phillips 66 during the 1st quarter worth approximately $37,000. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on PSX shares. Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, December 18th. Cowen reiterated a “buy” rating on shares of Phillips 66 in a research report on Thursday, October 30th. Piper Sandler cut their target price on shares of Phillips 66 from $171.00 to $155.00 and set a “neutral” rating for the company in a research note on Thursday. Mizuho upped their target price on shares of Phillips 66 from $145.00 to $150.00 and gave the company a “neutral” rating in a report on Friday, December 12th. Finally, BMO Capital Markets lifted their price target on shares of Phillips 66 from $152.00 to $160.00 in a report on Tuesday, November 11th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $146.88.

Phillips 66 Stock Down 1.4%

Shares of NYSE:PSX opened at $142.24 on Friday. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68. The firm has a market cap of $57.31 billion, a price-to-earnings ratio of 38.86, a PEG ratio of 0.38 and a beta of 0.90. The stock’s 50-day moving average price is $135.86 and its two-hundred day moving average price is $131.32. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $145.68.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. The company had revenue of $33.69 billion during the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a net margin of 1.12% and a return on equity of 5.53%. During the same quarter in the prior year, the company posted $2.04 EPS. On average, research analysts forecast that Phillips 66 will post 6.8 EPS for the current year.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the transaction, the chief financial officer owned 89,771 shares of the company’s stock, valued at $12,388,398. This trade represents a 25.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Brian Mandell sold 26,200 shares of Phillips 66 stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the completion of the transaction, the executive vice president owned 56,838 shares in the company, valued at approximately $7,825,455.84. This trade represents a 31.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 86,094 shares of company stock valued at $11,955,366. Insiders own 0.22% 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.