Meeder Asset Management Inc. Has $1.49 Million Holdings in Phillips 66 $PSX

Meeder Asset Management Inc. boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 4,545.5% during the 1st quarter, HoldingsChannel.com reports. The fund owned 8,176 shares of the oil and gas company’s stock after purchasing an additional 8,000 shares during the period. Meeder Asset Management Inc.’s holdings in Phillips 66 were worth $1,490,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. NFSG Corp raised its position in shares of Phillips 66 by 105.6% during the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after purchasing an additional 75 shares during the period. Accordant Advisory Group Inc grew its position in shares of Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after purchasing an additional 180 shares during the period. SWAN Capital LLC grew its position in shares of Phillips 66 by 1,055.6% in the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 190 shares during the period. Eagle Bay Advisors LLC acquired a new position in shares of Phillips 66 in the 4th quarter valued at approximately $27,000. Finally, Stephens Consulting LLC increased its stake in Phillips 66 by 67.7% during the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 90 shares in the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Price Performance

Shares of PSX opened at $208.85 on Tuesday. The company has a market cap of $83.73 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 0.27 and a beta of 0.69. The company’s fifty day simple moving average is $179.71 and its 200 day simple moving average is $166.31. Phillips 66 has a 1-year low of $118.07 and a 1-year high of $211.05. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last issued its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. The company had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. Phillips 66’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.90) EPS. On average, research analysts forecast that Phillips 66 will post 19.84 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s payout ratio is currently 50.05%.

Insider Transactions at Phillips 66

In other news, Director Kevin Omar Meyers acquired 175 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were purchased at an average cost of $173.12 per share, with a total value of $30,296.00. Following the acquisition, the director directly owned 16,799 shares in the company, valued at $2,908,242.88. This represents a 1.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction on Friday, May 8th. The stock was sold at an average price of $170.00, for a total value of $4,998,000.00. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at $16,553,920. The trade was a 23.19% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 41,021 shares of company stock worth $7,195,257. 0.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PSX has been the topic of several research analyst reports. Weiss Ratings downgraded shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Scotiabank upped their price target on shares of Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. Guggenheim raised shares of Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. Argus raised their price objective on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a report on Thursday, May 14th. Finally, UBS Group reaffirmed a “buy” rating and issued a $212.00 price objective on shares of Phillips 66 in a research report on Monday, June 15th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Phillips 66 currently has an average rating of “Moderate Buy” and an average price target of $196.06.

Phillips 66 Company Profile

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.