Phillips 66 $PSX Stock Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al boosted its stake in shares of Phillips 66 (NYSE:PSX) by 122.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 27,089 shares of the oil and gas company’s stock after buying an additional 14,889 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Phillips 66 were worth $6,916,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of PSX. Pointe Capital Management LLC increased its position in shares of Phillips 66 by 4.3% during the second quarter. Pointe Capital Management LLC now owns 1,261 shares of the oil and gas company’s stock worth $213,000 after acquiring an additional 52 shares in the last quarter. Community Financial Services Group LLC lifted its position in Phillips 66 by 9.2% in the 3rd quarter. Community Financial Services Group LLC now owns 615 shares of the oil and gas company’s stock valued at $163,000 after acquiring an additional 52 shares in the last quarter. AMI Investment Management Inc. lifted its position in Phillips 66 by 3.1% in the 3rd quarter. AMI Investment Management Inc. now owns 1,752 shares of the oil and gas company’s stock valued at $447,000 after acquiring an additional 53 shares in the last quarter. Key Client Fiduciary Advisors LLC lifted its position in Phillips 66 by 3.5% in the 2nd quarter. Key Client Fiduciary Advisors LLC now owns 1,624 shares of the oil and gas company’s stock valued at $275,000 after acquiring an additional 55 shares in the last quarter. Finally, Threadgill Financial LLC boosted its stake in Phillips 66 by 3.5% in the 2nd quarter. Threadgill Financial LLC now owns 1,693 shares of the oil and gas company’s stock worth $286,000 after purchasing an additional 58 shares during the period. Institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Brian Mandell sold 23,400 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $265.06, for a total value of $6,202,404.00. Following the completion of the transaction, the executive vice president directly owned 61,595 shares in the company, valued at $16,326,370.70. This trade represents a 27.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard G. Harbison sold 52,100 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total value of $11,657,896.00. Following the transaction, the executive vice president directly owned 39,094 shares in the company, valued at $8,747,673.44. This trade represents a 57.13% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 108,800 shares of company stock worth $25,016,566. 0.40% of the stock is owned by company insiders.

Phillips 66 Stock Up 3.5%

Phillips 66 stock opened at $283.18 on Friday. The company has a market cap of $110.46 billion, a P/E ratio of 9.04, a price-to-earnings-growth ratio of 0.16 and a beta of 0.71. Phillips 66 has a 1-year low of $127.16 and a 1-year high of $299.39. The company has a fifty day simple moving average of $266.19 and a 200 day simple moving average of $198.51. The company has a current ratio of 1.34, a quick ratio of 1.00 and a debt-to-equity ratio of 0.49.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, October 28th. The oil and gas company reported $14.08 EPS for the quarter, topping the consensus estimate of $11.73 by $2.35. Phillips 66 had a net margin of 7.27% and a return on equity of 33.12%. The firm had revenue of $50.54 billion for the quarter, compared to analysts’ expectations of $44.91 billion. During the same period in the previous year, the firm posted $2.52 EPS. Research analysts anticipate that Phillips 66 will post 33.11 earnings per share for the current fiscal year.

Phillips 66 announced that its board has approved a stock repurchase plan on Friday, July 31st that authorizes the company to repurchase $10 billion in outstanding shares. This repurchase authorization authorizes the oil and gas company to buy up to 11.8% of its stock through open market purchases. Share repurchase plans are often an indication that the company’s leadership believes its shares are undervalued.

Phillips 66 Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Tuesday, November 17th will be issued a $1.33 dividend. This represents a $5.32 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Tuesday, November 17th. This is a positive change from Phillips 66’s previous quarterly dividend of $1.27. Phillips 66’s dividend payout ratio is 16.22%.

Phillips 66 News Summary

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Phillips 66 reported adjusted earnings per share of $14.08, well above the $11.73 analyst consensus and up sharply year over year. Revenue also exceeded expectations, while record refining margins, 98% refinery utilization and a 41% distillate yield drove the profit surge. Phillips 66 Posts Strong Earnings But the Stock Doesn’t Care
• Positive Sentiment: Management highlighted continued strength in refining and midstream, progress on debt reduction and shareholder returns, and investment in long-term projects such as the Western Gateway Pipeline system. These initiatives could improve cash flow durability and reduce leverage. PSX Q3 Earnings Call Highlights Refining Strength and Growth Plans
• Positive Sentiment: The company raised its quarterly dividend to $1.33 per share and continued substantial share repurchases, reinforcing the income and capital-return case for investors. Learn Why The Bull Case For Phillips 66 Stock Could Change Following Earnings Beat
• Positive Sentiment: Some coverage argues that PSX may still be undervalued despite its significant multiyear advance, citing record profitability, robust midstream volumes, deleveraging and a relatively low reported valuation multiple. Phillips 66 Stock Could Be Undervalued

Wall Street Analysts Forecast Growth

PSX has been the subject of a number of research reports. Zacks Research upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a report on Monday, September 7th. TD Cowen boosted their price target on Phillips 66 from $295.00 to $308.00 and gave the company a “buy” rating in a report on Thursday, October 22nd. BMO Capital Markets upped their price objective on Phillips 66 from $260.00 to $310.00 and gave the stock an “outperform” rating in a research report on Thursday, September 17th. Citigroup upped their price objective on Phillips 66 from $217.00 to $297.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 13th. Finally, Weiss Ratings raised Phillips 66 from a “buy (b)” rating to a “buy (b+)” rating in a research report on Thursday, October 8th. Two analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Phillips 66 currently has an average rating of “Moderate Buy” and a consensus price target of $270.19.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an energy manufacturing and logistics company headquartered in Houston, Texas. The company was established in 2012 following the separation of ConocoPhillips’ downstream and midstream businesses.

Phillips 66 operates across midstream, chemicals, refining and marketing. Its midstream activities include gathering, processing, transporting and storing crude oil, natural gas and natural gas liquids. Through its refining operations, the company converts crude oil and other feedstocks into gasoline, diesel, jet fuel, lubricants and other refined petroleum products.

The company markets fuel and related products under the Phillips 66, 76 and Conoco brands, serving retail, commercial, aviation and industrial customers.