Phillips 66 $PSX Shares Purchased by Kentucky Retirement Systems

Kentucky Retirement Systems raised its stake in Phillips 66 (NYSE:PSX - Free Report) by 93.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,499 shares of the oil and gas company's stock after purchasing an additional 23,905 shares during the quarter. Kentucky Retirement Systems' holdings in Phillips 66 were worth $9,018,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Brighton Jones LLC grew its position in Phillips 66 by 238.5% in the fourth quarter. Brighton Jones LLC now owns 10,239 shares of the oil and gas company's stock valued at $1,166,000 after acquiring an additional 7,214 shares in the last quarter. Woodline Partners LP boosted its stake in shares of Phillips 66 by 40.7% in the first quarter. Woodline Partners LP now owns 34,891 shares of the oil and gas company's stock valued at $4,308,000 after purchasing an additional 10,089 shares during the period. Sei Investments Co. grew its holdings in Phillips 66 by 28.3% during the 2nd quarter. Sei Investments Co. now owns 157,455 shares of the oil and gas company's stock valued at $18,788,000 after purchasing an additional 34,698 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Phillips 66 by 9.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 346,679 shares of the oil and gas company's stock worth $41,359,000 after buying an additional 28,988 shares during the period. Finally, Glenview Trust co lifted its holdings in Phillips 66 by 2.6% in the 2nd quarter. Glenview Trust co now owns 8,949 shares of the oil and gas company's stock worth $1,068,000 after buying an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.

Phillips 66 Stock Up 0.5%

Shares of Phillips 66 stock opened at $206.97 on Thursday. Phillips 66 has a twelve month low of $118.07 and a twelve month high of $216.08. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The business's 50 day simple moving average is $184.11 and its 200-day simple moving average is $169.90. The stock has a market capitalization of $82.98 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 0.16 and a beta of 0.69.

Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion for the quarter, compared to analysts' expectations of $35.86 billion. During the same quarter in the previous year, the company posted ($0.90) earnings per share. The business's revenue for the quarter was up 6.9% compared to the same quarter last year. Equities research analysts forecast that Phillips 66 will post 22.43 earnings per share for the current year.

Phillips 66 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.5%. Phillips 66's dividend payout ratio (DPR) is 50.05%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PSX shares. Wolfe Research lifted their target price on Phillips 66 from $187.00 to $193.00 and gave the stock an "outperform" rating in a research report on Monday, April 6th. Zacks Research downgraded Phillips 66 from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Jefferies Financial Group increased their target price on Phillips 66 from $191.00 to $207.00 and gave the company a "hold" rating in a research note on Thursday, July 9th. Raymond James Financial raised their price target on shares of Phillips 66 from $218.00 to $235.00 and gave the stock an "outperform" rating in a research report on Monday, July 13th. Finally, Argus increased their price objective on shares of Phillips 66 from $185.00 to $197.00 and gave the company a "buy" rating in a research note on Thursday, May 14th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $201.72.

More Phillips 66 News

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Energy-sector momentum: Energy stocks rallied late Wednesday, with the NYSE Energy Sector Index rising 2.3%, providing a favorable backdrop for refiners such as Phillips 66. Sector Update: Energy Stocks Gain Late Afternoon
• Positive Sentiment: Refining margins remain supportive: Iran-related supply disruptions and record crack spreads are improving the earnings outlook for U.S. refiners. Phillips 66 has also benefited from better recent results, shareholder returns and a quarterly dividend of $1.27, or $5.08 annualized. Phillips 66 Gains On Refining Strength, Is The Stock Fully Priced?
• Positive Sentiment: Potential asset-sale proceeds: Phillips 66 and Shell are reportedly considering selling their stakes in Explorer, which owns a major refined-products pipeline valued at approximately $3.5 billion. A transaction could unlock value and strengthen PSX’s balance sheet, although no deal is confirmed. Shell, Phillips 66 weigh sale of stakes in $3.5 billion US pipeline Explorer

Insider Transactions at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 3,523 shares of the firm's stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total transaction of $743,529.15. Following the completion of the transaction, the executive vice president owned 27,537 shares of the company's stock, valued at $5,811,683.85. This trade represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin J. Mitchell sold 11,021 shares of Phillips 66 stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total transaction of $2,094,320.63. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at $18,504,361.28. This represents a 10.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 45,107 shares of company stock valued at $8,057,584. Corporate insiders own 0.40% of the company's stock.

About Phillips 66

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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