ProShare Advisors LLC Acquires 11,374 Shares of Phillips 66 (NYSE:PSX)

ProShare Advisors LLC increased its holdings in shares of Phillips 66 (NYSE:PSX) by 15.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 84,461 shares of the oil and gas company’s stock after purchasing an additional 11,374 shares during the quarter. ProShare Advisors LLC’s holdings in Phillips 66 were worth $11,923,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in shares of Phillips 66 by 38.0% in the 1st quarter. Bank of New York Mellon Corp now owns 8,019,795 shares of the oil and gas company’s stock valued at $1,309,954,000 after purchasing an additional 2,209,043 shares during the period. Wellington Management Group LLP boosted its holdings in Phillips 66 by 20.3% during the fourth quarter. Wellington Management Group LLP now owns 10,903,130 shares of the oil and gas company’s stock worth $1,451,643,000 after buying an additional 1,842,226 shares during the last quarter. Boston Partners grew its position in shares of Phillips 66 by 41.4% during the 1st quarter. Boston Partners now owns 5,453,892 shares of the oil and gas company’s stock worth $889,214,000 after buying an additional 1,595,722 shares during the period. Vanguard Group Inc. increased its stake in shares of Phillips 66 by 4.0% in the 1st 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 acquiring an additional 1,578,669 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Phillips 66 by 96.9% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,863,603 shares of the oil and gas company’s stock valued at $467,743,000 after acquiring an additional 1,408,954 shares during the period. 76.93% of the stock is currently owned by institutional investors and hedge funds.

Phillips 66 Stock Performance

Shares of PSX stock opened at $131.11 on Tuesday. The firm has a market cap of $55.58 billion, a PE ratio of 10.09, a P/E/G ratio of 4.67 and a beta of 1.33. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08. The company’s fifty day simple moving average is $135.02 and its 200-day simple moving average is $143.52. The company has a quick ratio of 0.79, a current ratio of 1.14 and a debt-to-equity ratio of 0.56.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, topping analysts’ consensus estimates 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 net margin of 3.32% and a return on equity of 16.77%. The company’s quarterly revenue was up 8.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.87 EPS. Equities research analysts expect that Phillips 66 will post 9.1 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 3.51%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is 35.38%.

Analysts Set New Price Targets

Several equities research analysts have commented on PSX shares. Mizuho lowered their target price on shares of Phillips 66 from $154.00 to $150.00 and set a “neutral” rating for the company in a research note on Monday, September 16th. Wolfe Research initiated coverage on shares of Phillips 66 in a research report on Thursday, July 18th. They issued a “peer perform” rating for the company. JPMorgan Chase & Co. reduced their target price on Phillips 66 from $165.00 to $162.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Morgan Stanley lowered their price target on Phillips 66 from $150.00 to $144.00 and set an “equal weight” rating for the company in a report on Monday, September 16th. Finally, Scotiabank cut their price objective on Phillips 66 from $156.00 to $145.00 and set a “sector outperform” rating on the stock in a report on Friday, July 12th. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and an average target price of $154.21.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were 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 of the company’s stock, valued at $11,390,062.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.22% of the company’s stock.

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.