State of Alaska Department of Revenue Has $5.47 Million Stock Position in Phillips 66 $PSX

Key Points

• The State of Alaska Department of Revenue reduced its position in Phillips 66 ($PSX) by 5.2%, now holding 45,876 shares valued at approximately $5.47 million.
• Insider transactions include a sale of 4,393 shares by EVP Vanessa Allen Sutherland, and a purchase of 8,350 shares by Director Gregory Hayes, indicating varied confidence among company executives.
• Upcoming analysts' reports reflect mixed sentiments, with price targets for Phillips 66 ranging from $115.00 to $154.00, suggesting a general view of "Moderate Buy" among several investment analysts.

State of Alaska Department of Revenue lowered its position in shares of Phillips 66 (NYSE:PSX - Free Report) by 5.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 45,876 shares of the oil and gas company's stock after selling 2,520 shares during the quarter. State of Alaska Department of Revenue's holdings in Phillips 66 were worth $5,473,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. WealthTrust Axiom LLC lifted its holdings in shares of Phillips 66 by 1.1% during the first quarter. WealthTrust Axiom LLC now owns 7,241 shares of the oil and gas company's stock worth $894,000 after buying an additional 81 shares in the last quarter. Magnus Financial Group LLC grew its holdings in shares of Phillips 66 by 2.8% during the 2nd quarter. Magnus Financial Group LLC now owns 3,083 shares of the oil and gas company's stock worth $368,000 after purchasing an additional 84 shares in the last quarter. Biltmore Wealth Management LLC increased its position in shares of Phillips 66 by 2.4% in the second quarter. Biltmore Wealth Management LLC now owns 3,613 shares of the oil and gas company's stock worth $431,000 after purchasing an additional 85 shares during the period. Legacy Private Trust Co. increased its position in shares of Phillips 66 by 3.3% in the second quarter. Legacy Private Trust Co. now owns 3,007 shares of the oil and gas company's stock worth $359,000 after purchasing an additional 95 shares during the period. Finally, Hager Investment Management Services LLC increased its position 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 purchasing an additional 96 shares during the period. Institutional investors and hedge funds own 76.93% of the company's stock.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $135.00, for a total value of $593,055.00. Following the completion of the transaction, the executive vice president directly owned 38,980 shares in the company, valued at approximately $5,262,300. This trade represents a 10.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gregory Hayes acquired 8,350 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The stock was bought at an average price of $119.90 per share, with a total value of $1,001,165.00. Following the completion of the acquisition, the director directly owned 29,423 shares of the company's stock, valued at $3,527,817.70. This trade represents a 39.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 9,850 shares of company stock valued at $1,188,910 over the last three months. Company insiders own 0.22% of the company's stock.

Wall Street Analyst Weigh In

PSX has been the topic of a number of recent analyst reports. Piper Sandler raised their price target on Phillips 66 from $144.00 to $154.00 and gave the stock a "neutral" rating in a research report on Thursday, September 11th. JPMorgan Chase & Co. set a $115.00 price target on Phillips 66 in a research report on Wednesday, June 18th. Wall Street Zen upgraded Phillips 66 from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Argus upgraded Phillips 66 to a "strong-buy" rating in a research report on Thursday, July 31st. Finally, TD Cowen raised their price target on Phillips 66 from $130.00 to $134.00 and gave the stock a "buy" rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $139.38.

Phillips 66 Stock Performance

Phillips 66 stock opened at $139.45 on Monday. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $142.35. The company has a quick ratio of 0.79, a current ratio of 1.07 and a debt-to-equity ratio of 0.60. The business's 50-day moving average price is $127.94 and its two-hundred day moving average price is $120.14. The stock has a market cap of $56.35 billion, a PE ratio of 33.52, a P/E/G ratio of 1.98 and a beta of 1.15.

Phillips 66 (NYSE:PSX - Get Free Report) last posted 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. The firm had revenue of $33.77 billion during the quarter, compared to the consensus estimate of $32.11 billion. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%.During the same period last year, the company earned $2.31 earnings per share. As a group, 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 announced a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Tuesday, August 19th were given a $1.20 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $4.80 annualized dividend and a yield of 3.4%. Phillips 66's dividend payout ratio (DPR) is currently 115.38%.

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.

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