Allstate Corp Purchases Shares of 1,413 Phillips 66 (NYSE:PSX)

Allstate Corp purchased a new stake in Phillips 66 (NYSE:PSX) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,413 shares of the oil and gas company’s stock, valued at approximately $231,000.

Several other large investors have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale lifted its holdings in shares of Phillips 66 by 12.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after acquiring an additional 22,278 shares during the last quarter. TIAA Trust National Association raised its position in 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 worth $1,973,000 after purchasing an additional 3,670 shares during the period. Duality Advisers LP purchased a new position in Phillips 66 in the 1st quarter worth $3,596,000. Daiwa Securities Group Inc. raised its position in 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 worth $6,470,000 after purchasing an additional 10,536 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its position in Phillips 66 by 14.3% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 289,395 shares of the oil and gas company’s stock worth $38,530,000 after purchasing an additional 36,116 shares during the period. 76.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on PSX shares. Mizuho decreased their target price on shares of Phillips 66 from $162.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, June 20th. Argus restated a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a research report on Thursday, May 30th. Wells Fargo & Company boosted their price objective on shares of Phillips 66 from $179.00 to $191.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. StockNews.com cut shares of Phillips 66 from a “buy” rating to a “hold” rating in a research report on Monday, May 6th. Finally, TD Cowen decreased their price objective on shares of Phillips 66 from $164.00 to $155.00 and set a “buy” rating on the stock in a research report on Friday, June 21st. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.23.

Insider Transactions at Phillips 66

In other news, EVP Timothy D. Roberts sold 37,742 shares of the company’s stock in a transaction that occurred 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 owns 48,365 shares in the company, valued at $7,051,617. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.22% of the company’s stock.

Phillips 66 Stock Up 1.2 %

NYSE:PSX traded up $1.64 during mid-day trading on Monday, hitting $140.11. 1,688,560 shares of the company’s stock were exchanged, compared to its average volume of 2,693,854. Phillips 66 has a one year low of $105.56 and a one year high of $174.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The business has a fifty day moving average price of $139.72 and a 200 day moving average price of $145.35. The company has a market cap of $59.40 billion, a PE ratio of 10.58, a P/E/G ratio of 2.27 and a beta of 1.34.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Friday, April 26th. The oil and gas company reported $1.90 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. The business had revenue of $36.44 billion for the quarter, compared to the consensus estimate of $35.87 billion. During the same period in the previous year, the firm earned $4.21 EPS. Equities analysts predict that Phillips 66 will post 10.06 EPS for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th will be paid a $1.15 dividend. The ex-dividend date is Tuesday, August 20th. This represents a $4.60 annualized dividend and a dividend yield of 3.28%. Phillips 66’s dividend payout ratio is presently 35.38%.

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.