OMERS ADMINISTRATION Corp Raises Stock Position in Phillips 66 $PSX

Key Points

• OMERS ADMINISTRATION Corp increased its stake in Phillips 66 by 113.1% during the first quarter, owning 38,952 shares valued at $4.81 million as of the latest reporting period.
• Phillips 66 reported $2.38 EPS for the last quarter, surpassing analysts' expectations, with revenues of $33.77 billion.
• The company announced a quarterly dividend of $1.20 per share, representing an annualized basis of $4.80 and a dividend yield of 3.6%.

OMERS ADMINISTRATION Corp boosted its holdings in shares of Phillips 66 (NYSE:PSX - Free Report) by 113.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,952 shares of the oil and gas company's stock after acquiring an additional 20,670 shares during the period. OMERS ADMINISTRATION Corp's holdings in Phillips 66 were worth $4,810,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Forum Financial Management LP raised its position in shares of Phillips 66 by 1.0% during the 4th quarter. Forum Financial Management LP now owns 7,486 shares of the oil and gas company's stock worth $853,000 after purchasing an additional 77 shares during the last quarter. WealthTrust Axiom LLC grew its holdings in Phillips 66 by 1.1% during the 1st quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company's stock valued at $894,000 after buying an additional 81 shares during the last quarter. CWC Advisors LLC. increased its position in Phillips 66 by 1.0% during the fourth quarter. CWC Advisors LLC. now owns 9,743 shares of the oil and gas company's stock worth $1,110,000 after buying an additional 92 shares in the last quarter. Hager Investment Management Services LLC raised its holdings in shares of Phillips 66 by 7.2% in the first quarter. Hager Investment Management Services LLC now owns 1,438 shares of the oil and gas company's stock worth $178,000 after acquiring an additional 96 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of Phillips 66 by 14.4% in the first quarter. Golden State Wealth Management LLC now owns 772 shares of the oil and gas company's stock worth $95,000 after acquiring an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Insider Activity

In other news, Director Michael A. Heim purchased 1,000 shares of the company's stock in a transaction on Wednesday, July 30th. The stock was bought at an average cost of $125.97 per share, for a total transaction of $125,970.00. Following the completion of the purchase, the director directly owned 12,043 shares of the company's stock, valued at $1,517,056.71. The trade was a 9.06% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vanessa Allen Sutherland sold 4,393 shares of the firm's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $130.00, for a total value of $571,090.00. Following the completion of the transaction, the executive vice president owned 43,373 shares in the company, valued at approximately $5,638,490. This trade represents a 9.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have bought 9,850 shares of company stock valued at $1,188,910 in the last 90 days. 0.22% of the stock is owned by corporate insiders.

Phillips 66 Trading Up 0.6%

PSX stock traded up $0.86 on Monday, hitting $133.69. 1,530,714 shares of the company were exchanged, compared to its average volume of 1,979,315. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $140.85. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. The business's fifty day moving average is $125.03 and its two-hundred day moving average is $119.25. The stock has a market capitalization of $54.03 billion, a price-to-earnings ratio of 32.14, a price-to-earnings-growth ratio of 1.81 and a beta of 1.15.

Phillips 66 (NYSE:PSX - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share for the quarter, beating analysts' consensus estimates 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 business earned $2.31 EPS. As a group, research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Tuesday, August 19th will be issued a $1.20 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $4.80 dividend on an annualized basis and a yield of 3.6%. Phillips 66's dividend payout ratio (DPR) is presently 115.38%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on PSX. TD Cowen lifted their price objective on Phillips 66 from $130.00 to $134.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. Argus raised shares of Phillips 66 to a "strong-buy" rating in a research note on Thursday, July 31st. Mizuho lifted their price target on shares of Phillips 66 from $132.00 to $138.00 and gave the stock a "neutral" rating in a report on Tuesday, May 13th. Evercore ISI started coverage on shares of Phillips 66 in a research report on Wednesday, June 18th. They set an "outperform" rating and a $130.00 target price on the stock. Finally, JPMorgan Chase & Co. set a $115.00 price target on Phillips 66 in a report on Wednesday, June 18th. One analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $136.20.

Phillips 66 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.