Phillips 66 (NYSE:PSX) Stake Lifted by Texas Permanent School Fund

Texas Permanent School Fund increased its stake in Phillips 66 (NYSE:PSXGet Rating) by 0.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,685 shares of the oil and gas company’s stock after acquiring an additional 249 shares during the period. Texas Permanent School Fund’s holdings in Phillips 66 were worth $5,243,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in PSX. Mutual Advisors LLC boosted its holdings in Phillips 66 by 3.2% during the fourth quarter. Mutual Advisors LLC now owns 3,529 shares of the oil and gas company’s stock worth $256,000 after buying an additional 111 shares in the last quarter. Harbour Investment Management LLC boosted its holdings in Phillips 66 by 0.7% during the fourth quarter. Harbour Investment Management LLC now owns 15,577 shares of the oil and gas company’s stock worth $1,129,000 after buying an additional 112 shares in the last quarter. Riverwater Partners LLC boosted its holdings in Phillips 66 by 2.6% during the first quarter. Riverwater Partners LLC now owns 4,667 shares of the oil and gas company’s stock worth $403,000 after buying an additional 118 shares in the last quarter. Sandy Spring Bank boosted its holdings in Phillips 66 by 1.9% during the first quarter. Sandy Spring Bank now owns 6,582 shares of the oil and gas company’s stock worth $569,000 after buying an additional 123 shares in the last quarter. Finally, M&R Capital Management Inc. boosted its holdings in Phillips 66 by 4.2% during the first quarter. M&R Capital Management Inc. now owns 3,088 shares of the oil and gas company’s stock worth $266,000 after buying an additional 125 shares in the last quarter. 64.28% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Greg C. Garland sold 146,700 shares of the firm’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $109.70, for a total transaction of $16,092,990.00. Following the transaction, the chief executive officer now owns 656,563 shares in the company, valued at approximately $72,024,961.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Timothy D. Roberts sold 59,100 shares of the firm’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $110.21, for a total value of $6,513,411.00. Following the transaction, the executive vice president now directly owns 48,201 shares in the company, valued at approximately $5,312,232.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Greg C. Garland sold 146,700 shares of the firm’s stock in a transaction on Thursday, June 9th. The shares were sold at an average price of $109.70, for a total transaction of $16,092,990.00. Following the completion of the transaction, the chief executive officer now owns 656,563 shares in the company, valued at $72,024,961.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 297,700 shares of company stock worth $32,327,782. 0.74% of the stock is owned by corporate insiders.

Phillips 66 Stock Down 3.3 %

PSX stock opened at $82.65 on Friday. Phillips 66 has a 12-month low of $63.19 and a 12-month high of $111.28. The company has a quick ratio of 0.87, a current ratio of 1.28 and a debt-to-equity ratio of 0.51. The company has a market cap of $39.76 billion, a price-to-earnings ratio of 7.12, a PEG ratio of 0.49 and a beta of 1.41. The company has a 50 day moving average of $90.81 and a two-hundred day moving average of $87.96.

Phillips 66 (NYSE:PSXGet Rating) last released its quarterly earnings results on Friday, July 29th. The oil and gas company reported $6.77 earnings per share for the quarter, beating analysts’ consensus estimates of $5.92 by $0.85. The business had revenue of $49.31 billion for the quarter, compared to the consensus estimate of $40.93 billion. Phillips 66 had a net margin of 3.59% and a return on equity of 29.60%. Phillips 66’s revenue for the quarter was up 76.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. On average, equities analysts anticipate that Phillips 66 will post 15.55 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Thursday, August 18th will be issued a dividend of $0.97 per share. The ex-dividend date is Wednesday, August 17th. This represents a $3.88 dividend on an annualized basis and a dividend yield of 4.69%. Phillips 66’s dividend payout ratio is currently 33.42%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PSX shares. The Goldman Sachs Group restated a “buy” rating and set a $109.00 target price on shares of Phillips 66 in a report on Friday, July 1st. Credit Suisse Group upped their price target on shares of Phillips 66 to $122.00 in a research report on Thursday, June 9th. BMO Capital Markets began coverage on shares of Phillips 66 in a research report on Monday, June 13th. They issued an “outperform” rating and a $132.00 price target for the company. JPMorgan Chase & Co. upped their price target on shares of Phillips 66 from $102.00 to $112.00 in a research report on Tuesday, May 17th. Finally, Citigroup began coverage on shares of Phillips 66 in a research report on Tuesday, April 26th. They issued a “neutral” rating and a $89.00 price target for the company. Three investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.29.

About Phillips 66

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Phillips 66 operates as an energy manufacturing and logistics company. 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.

Further Reading

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Institutional Ownership by Quarter for Phillips 66 (NYSE:PSX)

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