Public Employees Retirement System of Ohio Buys Shares of 173,128 Phillips 66 $PSX

Public Employees Retirement System of Ohio bought a new stake in shares of Phillips 66 (NYSE:PSX) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 173,128 shares of the oil and gas company’s stock, valued at approximately $29,267,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. SWAN Capital LLC boosted its position in Phillips 66 by 1,055.6% during 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. NFSG Corp increased its position in Phillips 66 by 105.6% in the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after buying an additional 75 shares during the period. Axiom Investment Management LLC bought a new stake in Phillips 66 in the first quarter valued at $27,000. Compass Financial Management LLC bought a new stake in Phillips 66 in the second quarter valued at $28,000. Finally, Kelleher Financial Advisors acquired a new position in shares of Phillips 66 during the second quarter valued at $29,000. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of PSX opened at $244.50 on Friday. The firm has a market capitalization of $97.56 billion, a price-to-earnings ratio of 13.93, a price-to-earnings-growth ratio of 0.18 and a beta of 0.68. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. Phillips 66 has a one year low of $126.74 and a one year high of $246.95. The stock’s fifty day moving average is $206.11 and its 200-day moving average is $182.58.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, beating analysts’ consensus estimates of $7.50 by $1.91. The business had revenue of $52.04 billion for the quarter, compared to analysts’ expectations of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same period in the previous year, the business earned $2.38 earnings per share. Equities analysts anticipate that Phillips 66 will post 23.86 EPS for the current year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio is currently 28.95%.

Phillips 66 announced that its board has approved a share buyback program on Friday, July 31st that permits the company to repurchase $10.00 billion in outstanding shares. This repurchase authorization permits the oil and gas company to reacquire up to 11.8% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Phillips 66 from $207.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Guggenheim raised shares of Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. Jefferies Financial Group upped their target price on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a research report on Thursday, July 9th. Zacks Research lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Finally, Citigroup restated a “neutral” rating on shares of Phillips 66 in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $206.56.

Insider Activity at Phillips 66

In other news, EVP Vanessa Allen Sutherland sold 3,523 shares of the stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total value of $743,529.15. Following the completion of the transaction, the executive vice president directly owned 27,537 shares in the company, valued at $5,811,683.85. This trade represents a 11.34% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin J. Mitchell sold 11,021 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at $18,504,361.28. This represents a 10.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 100,507 shares of company stock valued at $21,770,810. 0.40% of the stock is currently owned by insiders.

Phillips 66 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.