Canada Post Corp Registered Pension Plan Has $3.50 Million Stock Position in Phillips 66 $PSX

Key Points

• Canada Post Corp Registered Pension Plan boosted its Phillips 66 stake by 82.3% in the fourth quarter, adding 12,245 shares to bring its total to 27,130 shares worth about $3.5 million.
• Institutional ownership remains high, with hedge funds and other institutions holding 76.93% of Phillips 66 stock. Several other investors also increased positions during the period.
• Wall Street sentiment is constructive: analysts have a Moderate Buy consensus rating and an average price target of $186.28, while Phillips 66 also recently reported better-than-expected quarterly EPS and declared a $1.27 quarterly dividend.

Canada Post Corp Registered Pension Plan increased its stake in Phillips 66 (NYSE:PSX - Free Report) by 82.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,130 shares of the oil and gas company's stock after acquiring an additional 12,245 shares during the quarter. Canada Post Corp Registered Pension Plan's holdings in Phillips 66 were worth $3,501,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Oppenheimer & Co. Inc. increased its holdings in Phillips 66 by 57.4% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 56,858 shares of the oil and gas company's stock worth $7,734,000 after acquiring an additional 20,742 shares in the last quarter. First National Bank of Omaha purchased a new stake in Phillips 66 in the 3rd quarter worth approximately $2,357,000. TD Asset Management Inc increased its holdings in Phillips 66 by 15.5% in the 3rd quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company's stock worth $23,724,000 after acquiring an additional 23,364 shares in the last quarter. Caprock Group LLC purchased a new stake in Phillips 66 in the 3rd quarter worth approximately $2,412,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in Phillips 66 by 15.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,172,158 shares of the oil and gas company's stock worth $159,437,000 after acquiring an additional 160,407 shares in the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PSX has been the subject of several analyst reports. Wells Fargo & Company increased their target price on shares of Phillips 66 from $163.00 to $201.00 and gave the stock an "overweight" rating in a report on Tuesday, March 31st. UBS Group increased their target price on shares of Phillips 66 from $172.00 to $212.00 and gave the stock a "buy" rating in a report on Thursday, April 2nd. Barclays increased their target price on shares of Phillips 66 from $158.00 to $177.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 8th. Wolfe Research increased their target price on shares of Phillips 66 from $187.00 to $193.00 and gave the stock an "outperform" rating in a report on Monday, April 6th. Finally, Argus increased their target price on shares of Phillips 66 from $185.00 to $197.00 and gave the stock a "buy" rating in a report on Thursday. Two research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, Phillips 66 presently has a consensus rating of "Moderate Buy" and an average target price of $186.28.

Insider Buying and Selling

In related news, Director Lisa Ann Davis sold 3,800 shares of the firm's stock in a transaction on Friday, March 13th. The stock was sold at an average price of $174.37, for a total value of $662,606.00. Following the completion of the sale, the director directly owned 8,701 shares in the company, valued at $1,517,193.37. This trade represents a 30.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Don Baldridge sold 7,500 shares of the firm's stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $160.00, for a total value of $1,200,000.00. Following the completion of the sale, the executive vice president owned 38,488 shares of the company's stock, valued at approximately $6,158,080. This represents a 16.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 121,529 shares of company stock valued at $20,841,455 over the last 90 days. 0.40% of the stock is currently owned by insiders.

Phillips 66 Stock Up 0.1%

NYSE PSX opened at $176.42 on Monday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The company has a market capitalization of $70.73 billion, a P/E ratio of 17.38, a P/E/G ratio of 0.26 and a beta of 0.70. Phillips 66 has a one year low of $109.75 and a one year high of $190.61. The stock has a 50 day moving average price of $170.79 and a 200-day moving average price of $151.93.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results 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. The firm had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company's quarterly revenue was up 6.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.90) EPS. As a group, equities analysts predict that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be given a $1.27 dividend. The ex-dividend date is Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. Phillips 66's dividend payout ratio (DPR) is currently 50.05%.

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.

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