Phillips 66 (NYSE:PSX) Shares Purchased by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado increased its stake in shares of Phillips 66 (NYSE:PSX) by 11.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,047,699 shares of the oil and gas company’s stock after acquiring an additional 105,223 shares during the quarter. Public Employees Retirement Association of Colorado owned about 0.25% of Phillips 66 worth $147,904,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PSX. Vanguard Group Inc. increased its stake in Phillips 66 by 4.0% in the first quarter. Vanguard Group Inc. now owns 41,271,077 shares of the oil and gas company’s stock valued at $6,741,218,000 after purchasing an additional 1,578,669 shares during the period. Wellington Management Group LLP increased its stake in Phillips 66 by 20.3% in the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock valued at $1,451,643,000 after purchasing an additional 1,842,226 shares during the period. Bank of New York Mellon Corp increased its stake in Phillips 66 by 5.0% in the second quarter. Bank of New York Mellon Corp now owns 8,422,720 shares of the oil and gas company’s stock valued at $1,189,035,000 after purchasing an additional 402,925 shares during the period. Boston Partners increased its stake in Phillips 66 by 41.4% in the first quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock valued at $889,214,000 after purchasing an additional 1,595,722 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Phillips 66 by 3.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,643,264 shares of the oil and gas company’s stock valued at $514,253,000 after purchasing an additional 111,261 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Phillips 66

In other Phillips 66 news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $139.01, for a total value of $4,170,300.00. Following the completion of the transaction, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.22% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Raymond James lifted their price objective on shares of Phillips 66 from $150.00 to $155.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. lowered their price objective on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Argus reaffirmed a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a report on Thursday, May 30th. Barclays lifted their price objective on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Finally, Wolfe Research initiated coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They set a “peer perform” rating for the company. Six equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and a consensus target price of $155.29.

Phillips 66 Trading Up 1.7 %

Shares of Phillips 66 stock opened at $132.56 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. Phillips 66 has a 1 year low of $107.85 and a 1 year high of $174.08. The company has a market capitalization of $55.49 billion, a P/E ratio of 10.20, a P/E/G ratio of 4.53 and a beta of 1.33. The business has a 50 day moving average price of $135.37 and a 200 day moving average price of $143.79.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.33. The company had revenue of $38.91 billion during the quarter, compared to the consensus estimate of $37.79 billion. Phillips 66 had a return on equity of 16.77% and a net margin of 3.32%. Phillips 66’s revenue was up 8.9% on a year-over-year basis. During the same period in the previous year, the firm posted $3.87 EPS. Sell-side analysts anticipate that Phillips 66 will post 9.25 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were issued a $1.15 dividend. The ex-dividend date was Tuesday, August 20th. This represents a $4.60 annualized dividend and a yield of 3.47%. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

Phillips 66 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.