Phillips 66 $PSX Shares Bought by Federation des caisses Desjardins du Quebec

Key Points

• The Federation des caisses Desjardins du Quebec has increased its stake in Phillips 66 by 14.3%, acquiring an additional 1,931 shares during the first quarter, bringing their total ownership to 15,474 shares valued at approximately $1.91 million.
• Phillips 66 reported a Q2 EPS of $2.38, exceeding analysts' expectations, with revenue hitting $33.77 billion against a projected $32.11 billion.
• The company announced a quarterly dividend of $1.20 per share, translating to an annualized dividend of $4.80, which yields 3.7%.

Federation des caisses Desjardins du Quebec grew its position in Phillips 66 (NYSE:PSX - Free Report) by 14.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,474 shares of the oil and gas company's stock after acquiring an additional 1,931 shares during the quarter. Federation des caisses Desjardins du Quebec's holdings in Phillips 66 were worth $1,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Pacific Center for Financial Services purchased a new stake in shares of Phillips 66 in the 4th quarter worth $27,000. von Borstel & Associates Inc. purchased a new stake in shares of Phillips 66 in the 1st quarter worth $27,000. Olde Wealth Management LLC purchased a new stake in shares of Phillips 66 in the 1st quarter worth $28,000. Wood Tarver Financial Group LLC purchased a new stake in shares of Phillips 66 in the 4th quarter worth $29,000. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Phillips 66 in the 1st quarter worth $29,000. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Performance

PSX stock traded up $0.21 during trading on Thursday, hitting $131.63. 760,427 shares of the company traded hands, compared to its average volume of 3,237,264. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a 1 year low of $91.01 and a 1 year high of $140.60. The stock's 50-day simple moving average is $126.75 and its 200 day simple moving average is $119.52. The company has a market cap of $53.19 billion, a PE ratio of 31.66, a P/E/G ratio of 2.06 and a beta of 1.15.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Friday, July 25th. The oil and gas company reported $2.38 EPS for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.The company had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. During the same period last year, the company earned $2.31 earnings per share. On average, equities analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend was Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is presently 115.38%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PSX. Scotiabank reiterated a "sector perform" rating and issued a $133.00 target price on shares of Phillips 66 in a report on Friday, July 11th. Bank of America cut Phillips 66 from a "buy" rating to a "neutral" rating and upped their price objective for the stock from $144.00 to $147.00 in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. set a $115.00 price objective on Phillips 66 in a research note on Wednesday, June 18th. TD Cowen increased their price target on Phillips 66 from $130.00 to $134.00 and gave the company a "buy" rating in a research note on Monday, July 28th. Finally, Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, Phillips 66 has a consensus rating of "Moderate Buy" and an average target price of $136.40.

Insider Buying and Selling

In related news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business's stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $135.00, for a total transaction of $593,055.00. Following the completion of the sale, the executive vice president directly owned 38,980 shares in the company, valued at approximately $5,262,300. The trade was a 10.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gregory Hayes purchased 8,350 shares of the company's stock in a transaction that occurred on Thursday, August 14th. The shares were purchased at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the transaction, the director directly owned 29,423 shares of the company's stock, valued at $3,527,817.70. This represents a 39.62% increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 9,850 shares of company stock valued at $1,188,910 and sold 18,586 shares valued at $2,389,145. 0.22% of the stock is currently owned by company insiders.

Phillips 66 Company 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.