National Pension Service Grows Stock Holdings in Phillips 66 (NYSE:PSX)

Key Points

• The National Pension Service has increased its stake in Phillips 66 by 5.3%, owning approximately 1,180,552 shares valued at $145.8 million.
• Phillips 66 reported a quarterly earnings of $2.38 per share, exceeding analysts' expectations of $1.79, with revenues of $33.77 billion.
• The company declared a quarterly dividend of $1.20 per share, resulting in a 3.9% yield and a payout ratio of 115.38%.

National Pension Service increased its stake in Phillips 66 (NYSE:PSX - Free Report) by 5.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,180,552 shares of the oil and gas company's stock after purchasing an additional 59,895 shares during the period. National Pension Service owned approximately 0.29% of Phillips 66 worth $145,775,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. Pacific Center for Financial Services acquired a new stake in Phillips 66 in the 4th quarter valued at about $27,000. von Borstel & Associates Inc. acquired a new stake in Phillips 66 in the 1st quarter valued at about $27,000. Olde Wealth Management LLC acquired a new stake in Phillips 66 in the 1st quarter valued at about $28,000. Wood Tarver Financial Group LLC acquired a new stake in Phillips 66 in the 4th quarter valued at about $29,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Phillips 66 in the 1st quarter valued at about $29,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Phillips 66 Price Performance

Shares of Phillips 66 stock traded up $0.89 on Friday, hitting $123.62. 2,302,957 shares of the company traded hands, compared to its average volume of 2,434,668. The firm's 50-day simple moving average is $123.85 and its 200 day simple moving average is $118.88. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. The company has a market cap of $49.96 billion, a P/E ratio of 29.72, a P/E/G ratio of 1.70 and a beta of 1.09. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $140.85.

Phillips 66 (NYSE:PSX - Get Free Report) last released its earnings results 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 net margin of 1.27% and a return on equity of 4.87%. The company had revenue of $33.77 billion for the quarter, compared to analyst estimates of $32.11 billion. During the same quarter last year, the firm earned $2.31 EPS. Analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th will be issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's dividend payout ratio (DPR) is 115.38%.

Wall Street Analysts Forecast Growth

PSX has been the topic of several research analyst reports. UBS Group increased their price target on shares of Phillips 66 from $141.00 to $143.00 and gave the company a "buy" rating in a report on Monday, July 28th. Wells Fargo & Company lowered their price target on shares of Phillips 66 from $149.00 to $147.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Tudor Pickering cut shares of Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Thursday, May 22nd. Raymond James Financial set a $142.00 price target on shares of Phillips 66 and gave the company an "outperform" rating in a report on Tuesday, July 15th. Finally, Cantor Fitzgerald initiated coverage on shares of Phillips 66 in a report on Wednesday, June 18th. They issued a "neutral" rating on the stock. Ten analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $136.20.

Insiders Place Their Bets

In related news, Director Gregory Hayes bought 8,350 shares of the business's stock in a transaction dated 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 purchase, the director owned 29,423 shares of the company's stock, valued at approximately $3,527,817.70. This trade represents a 39.62% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sigmund L. Cornelius bought 500 shares of the business's stock in a transaction dated Thursday, July 31st. The shares were bought at an average cost of $123.55 per share, for a total transaction of $61,775.00. Following the purchase, the director directly owned 21,543 shares in the company, valued at approximately $2,661,637.65. This represents a 2.38% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have purchased 10,289 shares of company stock worth $1,238,890. 0.22% of the stock is currently owned by insiders.

About Phillips 66

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.