National Pension Service Buys 11,960 Shares of Phillips 66 $PSX

Key Points

• National Pension Service increased its Phillips 66 stake by 2.0% in the fourth quarter, adding 11,960 shares and bringing its total holdings to 614,059 shares valued at about $79.2 million.
• Phillips 66 reported better-than-expected quarterly earnings of $0.49 per share, though revenue came in below consensus estimates. Revenue still rose 6.9% year over year, and analysts expect full-year EPS of 17.64.
• The company declared a quarterly dividend of $1.27 per share, payable on June 1, implying an annualized yield of 2.9%. Meanwhile, analysts remain generally positive, with a consensus rating of Moderate Buy and an average price target of $191.28.

National Pension Service raised its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 2.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 614,059 shares of the oil and gas company's stock after purchasing an additional 11,960 shares during the quarter. National Pension Service owned 0.15% of Phillips 66 worth $79,238,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. CYBER HORNET ETFs LLC increased its stake in Phillips 66 by 5.7% during the 4th quarter. CYBER HORNET ETFs LLC now owns 1,228 shares of the oil and gas company's stock valued at $158,000 after purchasing an additional 66 shares in the last quarter. GHP Investment Advisors Inc. increased its stake in Phillips 66 by 2.3% during the 4th quarter. GHP Investment Advisors Inc. now owns 3,210 shares of the oil and gas company's stock valued at $414,000 after purchasing an additional 72 shares in the last quarter. L2 Asset Management LLC increased its stake in Phillips 66 by 4.0% during the 3rd quarter. L2 Asset Management LLC now owns 1,893 shares of the oil and gas company's stock valued at $257,000 after purchasing an additional 72 shares in the last quarter. Mesirow Financial Investment Management Inc. increased its stake in Phillips 66 by 0.5% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 15,658 shares of the oil and gas company's stock valued at $2,130,000 after purchasing an additional 73 shares in the last quarter. Finally, KCM Investment Advisors LLC increased its stake in Phillips 66 by 1.6% during the 3rd quarter. KCM Investment Advisors LLC now owns 4,636 shares of the oil and gas company's stock valued at $631,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 76.93% of the company's stock.

Insider Activity at Phillips 66

In related news, Director Lisa Ann Davis sold 3,800 shares of the firm's stock in a transaction dated Friday, March 13th. The shares were sold at an average price of $174.37, for a total transaction of $662,606.00. Following the completion of the sale, the director owned 8,701 shares in the company, valued at approximately $1,517,193.37. This trade represents a 30.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Kevin J. Mitchell sold 600 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $171.56, for a total transaction of $102,936.00. Following the sale, the chief financial officer owned 97,376 shares of the company's stock, valued at $16,705,826.56. This trade represents a 0.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 114,029 shares of company stock worth $19,641,455. 0.40% of the stock is currently owned by corporate insiders.

Phillips 66 Price Performance

PSX opened at $175.79 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The company has a market capitalization of $70.48 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 0.26 and a beta of 0.70. The firm's fifty day moving average price is $172.38 and its two-hundred day moving average price is $154.66. Phillips 66 has a 1 year low of $111.19 and a 1 year high of $190.61.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.90) EPS. As a group, analysts anticipate that Phillips 66 will post 17.64 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

Analysts Set New Price Targets

PSX has been the subject of a number of recent research reports. Morgan Stanley restated an "overweight" rating and set a $180.00 price target on shares of Phillips 66 in a research note on Thursday, April 30th. Jefferies Financial Group boosted their price target on shares of Phillips 66 from $173.00 to $191.00 and gave the company a "hold" rating in a research note on Tuesday, May 26th. Guggenheim raised shares of Phillips 66 to an "outperform" rating in a report on Wednesday. BMO Capital Markets lifted their price objective on shares of Phillips 66 from $195.00 to $215.00 and gave the stock an "outperform" rating in a report on Wednesday, May 13th. Finally, Citigroup lifted their price objective on shares of Phillips 66 from $159.00 to $183.00 and gave the stock a "neutral" rating in a report on Thursday, April 9th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $191.28.

Phillips 66 Profile

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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