QRG Capital Management Inc. Buys 11,531 Shares of Phillips 66 (NYSE:PSX)

QRG Capital Management Inc. raised its stake in Phillips 66 (NYSE:PSX) by 27.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 54,302 shares of the oil and gas company’s stock after acquiring an additional 11,531 shares during the period. QRG Capital Management Inc.’s holdings in Phillips 66 were worth $8,870,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. DekaBank Deutsche Girozentrale boosted its position in Phillips 66 by 12.4% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock valued at $26,501,000 after buying an additional 22,278 shares during the period. Eldred Rock Partners LLC bought a new stake in shares of Phillips 66 in the 4th quarter valued at about $10,402,000. TIAA Trust National Association raised its holdings in shares of Phillips 66 by 32.9% in the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock valued at $1,973,000 after purchasing an additional 3,670 shares in the last quarter. Duality Advisers LP bought a new stake in shares of Phillips 66 in the 1st quarter valued at about $3,596,000. Finally, Daiwa Securities Group Inc. raised its holdings in shares of Phillips 66 by 27.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 48,601 shares of the oil and gas company’s stock valued at $6,470,000 after purchasing an additional 10,536 shares in the last quarter. 76.93% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Timothy D. Roberts sold 37,742 shares of Phillips 66 stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $145.80, for a total value of $5,502,783.60. Following the transaction, the executive vice president now directly owns 48,365 shares in the company, valued at approximately $7,051,617. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 Stock Down 0.2 %

PSX stock traded down $0.31 during midday trading on Tuesday, reaching $139.76. 1,041,577 shares of the company were exchanged, compared to its average volume of 2,710,823. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.82 and a current ratio of 1.17. Phillips 66 has a 1-year low of $98.89 and a 1-year high of $174.08. The stock’s 50-day simple moving average is $140.30 and its 200 day simple moving average is $145.21. The company has a market cap of $59.25 billion, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 2.21 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The company had revenue of $36.44 billion for the quarter, compared to analyst estimates of $35.87 billion. During the same period in the previous year, the business posted $4.21 EPS. On average, equities analysts forecast that Phillips 66 will post 10.47 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be issued a $1.15 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.29%. Phillips 66’s payout ratio is 35.38%.

Analysts Set New Price Targets

Several research analysts recently commented on PSX shares. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a research note on Monday, April 8th. The Goldman Sachs Group upped their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Piper Sandler dropped their price objective on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating on the stock in a report on Friday, June 14th. Raymond James lowered their price target on shares of Phillips 66 from $163.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, May 30th. Finally, StockNews.com downgraded shares of Phillips 66 from a “buy” rating to a “hold” rating in a report on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $155.86.

Phillips 66 Company Profile

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.