Phillips 66 $PSX Position Increased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp grew its position in shares of Phillips 66 (NYSE:PSX) by 19.5% in the 1st quarter, Holdings Channel reports. The institutional investor owned 36,146 shares of the oil and gas company’s stock after acquiring an additional 5,894 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Phillips 66 were worth $6,585,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PSX. NFSG Corp raised its holdings in Phillips 66 by 105.6% during the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after buying an additional 75 shares in the last quarter. Accordant Advisory Group Inc raised its holdings in 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 worth $26,000 after acquiring an additional 180 shares during the period. SWAN Capital LLC grew its position in shares of Phillips 66 by 1,055.6% in the fourth 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 last quarter. Eagle Bay Advisors LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth about $27,000. Finally, Dorato Capital Management bought a new position in Phillips 66 in the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.1%

Shares of NYSE:PSX opened at $206.94 on Monday. The company’s fifty day moving average is $182.54 and its 200-day moving average is $168.48. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. Phillips 66 has a 52 week low of $118.07 and a 52 week high of $216.08. The company has a market capitalization of $82.97 billion, a PE ratio of 20.39, a P/E/G ratio of 0.16 and a beta of 0.69.

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

Phillips 66 Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PSX. Citigroup raised their price target on shares of Phillips 66 from $183.00 to $204.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 14th. Jefferies Financial Group increased their price objective on shares of Phillips 66 from $191.00 to $207.00 and gave the company a “hold” rating in a research note on Thursday, July 9th. The Goldman Sachs Group increased 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. Wells Fargo & Company lifted their price objective on Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. Finally, Raymond James Financial lifted their price objective on Phillips 66 from $218.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, July 13th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $200.44.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 11,021 shares of Phillips 66 stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the completion of the transaction, the chief financial officer owned 97,376 shares in the company, valued at approximately $18,504,361.28. The trade was a 10.17% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Kevin Omar Meyers acquired 175 shares of Phillips 66 stock in a transaction on Wednesday, May 6th. The stock was acquired at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the purchase, the director owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This represents a 1.05% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 41,021 shares of company stock valued at $7,195,257 over the last ninety days. Insiders own 0.40% of the company’s stock.

About Phillips 66

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.