State of New Jersey Common Pension Fund D decreased its stake in shares of Phillips 66 (NYSE:PSX - Free Report) by 10.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 140,695 shares of the oil and gas company's stock after selling 16,335 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Phillips 66 were worth $17,373,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in the stock. Ethic Inc. raised its stake in Phillips 66 by 29.1% during the first quarter. Ethic Inc. now owns 11,744 shares of the oil and gas company's stock valued at $1,460,000 after buying an additional 2,649 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Phillips 66 by 10.7% during the first quarter. EverSource Wealth Advisors LLC now owns 5,460 shares of the oil and gas company's stock valued at $674,000 after buying an additional 526 shares during the last quarter. Horizon Investments LLC raised its stake in Phillips 66 by 1.4% during the first quarter. Horizon Investments LLC now owns 9,863 shares of the oil and gas company's stock valued at $1,218,000 after buying an additional 137 shares during the last quarter. Kovitz Investment Group Partners LLC increased its holdings in shares of Phillips 66 by 13.4% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 33,927 shares of the oil and gas company's stock worth $4,189,000 after purchasing an additional 4,014 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. increased its holdings in shares of Phillips 66 by 18.1% in the 1st quarter. Cookson Peirce & Co. Inc. now owns 6,366 shares of the oil and gas company's stock worth $786,000 after purchasing an additional 974 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company's stock.
Insider Buying and Selling at Phillips 66
In related news, Director Michael A. Heim purchased 1,000 shares of the business's stock in a transaction on Wednesday, July 30th. The stock was acquired at an average price of $125.97 per share, with a total value of $125,970.00. Following the completion of the acquisition, the director owned 12,043 shares of the company's stock, valued at approximately $1,517,056.71. This trade represents a 9.06% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Gregory Hayes purchased 8,350 shares of the business's stock in a transaction on Thursday, August 14th. The shares were bought at an average cost of $119.90 per share, with a total value of $1,001,165.00. Following 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 position. The disclosure for this purchase can be found here. Insiders have purchased a total of 10,289 shares of company stock valued at $1,238,890 in the last ninety days. 0.22% of the stock is currently owned by company insiders.
Phillips 66 Stock Performance
Shares of PSX opened at $123.62 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.07 and a quick ratio of 0.79. Phillips 66 has a one year low of $91.01 and a one year high of $140.85. The firm has a market capitalization of $49.96 billion, a P/E ratio of 29.72, a PEG ratio of 1.69 and a beta of 1.09. The business has a fifty day moving average of $123.85 and a 200 day moving average of $118.91.
Phillips 66 (NYSE:PSX - Get Free Report) last released its quarterly earnings results on Friday, July 25th. The oil and gas company reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.59. Phillips 66 had a return on equity of 4.87% and a net margin of 1.27%. The business had revenue of $33.77 billion during the quarter, compared to analyst estimates of $32.11 billion. During the same quarter in the previous year, the company posted $2.31 earnings per share. As a group, sell-side analysts anticipate that Phillips 66 will post 6.8 EPS for the current year.
Phillips 66 Dividend Announcement
The business 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 dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Tuesday, August 19th. Phillips 66's payout ratio is currently 115.38%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on PSX. Barclays lifted their target price on Phillips 66 from $115.00 to $127.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 9th. Scotiabank reissued a "sector perform" rating and issued a $133.00 target price on shares of Phillips 66 in a report on Friday, July 11th. UBS Group lifted their target price on Phillips 66 from $141.00 to $143.00 and gave the stock a "buy" rating in a report on Monday, July 28th. TD Cowen lifted their target price on Phillips 66 from $130.00 to $134.00 and gave the stock a "buy" rating in a report on Monday, July 28th. Finally, Wall Street Zen raised Phillips 66 from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Ten analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Phillips 66 currently has a consensus rating of "Moderate Buy" and a consensus price target of $136.20.
Read Our Latest Analysis on PSX
Phillips 66 Profile
(
Free Report)
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.
Further Reading
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