Public Employees Retirement System of Ohio Has $22.65 Million Stock Position in Phillips 66 $PSX

Public Employees Retirement System of Ohio lessened its stake in Phillips 66 (NYSE:PSX) by 2.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,328 shares of the oil and gas company’s stock after selling 3,453 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Phillips 66 were worth $22,650,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. MUFG Securities EMEA plc lifted its stake in Phillips 66 by 113.5% in the 4th quarter. MUFG Securities EMEA plc now owns 16,518 shares of the oil and gas company’s stock valued at $2,131,000 after acquiring an additional 8,783 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Phillips 66 by 17.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,371,804 shares of the oil and gas company’s stock worth $177,018,000 after acquiring an additional 199,646 shares in the last quarter. Horizon Investments LLC raised its holdings in shares of Phillips 66 by 478.4% in the fourth quarter. Horizon Investments LLC now owns 63,290 shares of the oil and gas company’s stock valued at $8,167,000 after purchasing an additional 52,348 shares during the last quarter. Truist Financial Corp lifted its position in shares of Phillips 66 by 1.6% in the fourth quarter. Truist Financial Corp now owns 675,084 shares of the oil and gas company’s stock worth $87,113,000 after purchasing an additional 10,585 shares in the last quarter. Finally, LBP AM SA grew its position in Phillips 66 by 237.8% in the fourth quarter. LBP AM SA now owns 56,380 shares of the oil and gas company’s stock valued at $7,275,000 after purchasing an additional 39,690 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers acquired 175 shares of the business’s stock in a transaction dated Wednesday, May 6th. The stock was bought at an average cost of $173.12 per share, with a total value of $30,296.00. Following the completion of the transaction, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kevin J. Mitchell sold 29,400 shares of Phillips 66 stock in a transaction that occurred 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 of the company’s stock, valued at $16,553,920. This represents a 23.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 41,021 shares of company stock valued at $7,195,257 in the last quarter. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on PSX shares. Jefferies Financial Group boosted their price target 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. Scotiabank raised their price objective on Phillips 66 from $140.00 to $151.00 and gave the company a “sector perform” rating in a report on Wednesday, April 22nd. UBS Group reaffirmed a “buy” rating and issued a $212.00 target price on shares of Phillips 66 in a research report on Monday, June 15th. Guggenheim upgraded Phillips 66 to an “outperform” rating in a report on Wednesday, May 27th. Finally, Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Sunday. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $200.44.

Phillips 66 Stock Performance

NYSE PSX opened at $206.94 on Friday. The firm has a market capitalization of $82.97 billion, a P/E ratio of 20.39, a price-to-earnings-growth ratio of 0.17 and a beta of 0.69. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The firm’s fifty day moving average price is $182.54 and its two-hundred day moving average price is $168.28. Phillips 66 has a 1 year low of $118.07 and a 1 year high of $216.08.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The company had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. During the same quarter last year, the firm posted ($0.90) EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. As a group, research analysts anticipate that Phillips 66 will post 22.43 EPS for the current year.

Phillips 66 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $1.27 dividend. This represents a $5.08 annualized dividend and a yield of 2.5%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is 50.05%.

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.