Phillips 66 (NYSE:PSX) Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd grew its holdings in Phillips 66 (NYSE:PSX - Free Report) by 14.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 71,861 shares of the oil and gas company's stock after buying an additional 9,006 shares during the period. IFM Investors Pty Ltd's holdings in Phillips 66 were worth $9,446,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in PSX. Opal Wealth Advisors LLC purchased a new stake in Phillips 66 during the first quarter valued at approximately $29,000. Pacific Center for Financial Services bought a new stake in Phillips 66 in the fourth quarter worth $27,000. Smallwood Wealth Investment Management LLC bought a new stake in Phillips 66 in the first quarter worth $29,000. Graney & King LLC purchased a new position in Phillips 66 during the fourth quarter worth $28,000. Finally, Wood Tarver Financial Group LLC bought a new position in Phillips 66 during the fourth quarter valued at $29,000. 76.93% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They issued a "neutral" rating on the stock. Evercore ISI assumed coverage on Phillips 66 in a research note on Wednesday, June 18th. They set an "outperform" rating and a $130.00 price target for the company. Raymond James Financial dropped their price objective on Phillips 66 from $150.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Mizuho increased their target price on Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a research note on Tuesday, May 13th. Finally, UBS Group lowered their target price on shares of Phillips 66 from $144.00 to $140.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $133.93.

Insider Activity at Phillips 66

In other news, Director Robert W. Pease purchased 439 shares of the stock in a transaction on Thursday, May 22nd. The stock was bought at an average price of $113.85 per share, with a total value of $49,980.15. Following the transaction, the director owned 4,091 shares in the company, valued at $465,760.35. The trade was a 12.02% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brian Mandell sold 9,800 shares of the stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $125.00, for a total value of $1,225,000.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares in the company, valued at $7,104,750. This represents a 14.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.22% of the stock is currently owned by insiders.

Phillips 66 Stock Up 0.3%

Shares of NYSE PSX traded up $0.34 during trading hours on Friday, hitting $126.80. 1,290,860 shares of the stock were exchanged, compared to its average volume of 3,104,736. Phillips 66 has a 12 month low of $91.01 and a 12 month high of $150.12. The firm has a fifty day moving average price of $116.94 and a 200-day moving average price of $117.05. The company has a quick ratio of 0.88, a current ratio of 1.23 and a debt-to-equity ratio of 0.63. The company has a market cap of $51.66 billion, a PE ratio of 28.88, a PEG ratio of 2.00 and a beta of 1.02.

Phillips 66 (NYSE:PSX - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The oil and gas company reported ($0.90) EPS for the quarter, missing the consensus estimate of $0.07 by ($0.97). Phillips 66 had a net margin of 1.32% and a return on equity of 4.83%. The business had revenue of $31.92 billion for the quarter, compared to analysts' expectations of $31.93 billion. During the same quarter in the prior year, the company posted $1.90 EPS. On average, sell-side analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Monday, May 19th were paid a $1.20 dividend. The ex-dividend date was Monday, May 19th. This is a boost from Phillips 66's previous quarterly dividend of $1.15. This represents a $4.80 dividend on an annualized basis and a yield of 3.79%. Phillips 66's dividend payout ratio (DPR) is 109.34%.

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.