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

National Pension Service boosted its stake in Phillips 66 (NYSE:PSX - Free Report) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 927,700 shares of the oil and gas company's stock after purchasing an additional 22,307 shares during the period. National Pension Service owned approximately 0.21% of Phillips 66 worth $123,514,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cardinal Capital Management grew its stake in shares of Phillips 66 by 0.3% during the 4th quarter. Cardinal Capital Management now owns 23,312 shares of the oil and gas company's stock valued at $3,104,000 after purchasing an additional 77 shares during the period. Aaron Wealth Advisors LLC raised its position in Phillips 66 by 3.6% in the fourth quarter. Aaron Wealth Advisors LLC now owns 2,340 shares of the oil and gas company's stock worth $312,000 after acquiring an additional 82 shares during the period. Benjamin Edwards Inc. boosted its stake in shares of Phillips 66 by 3.9% during the 4th quarter. Benjamin Edwards Inc. now owns 2,271 shares of the oil and gas company's stock worth $302,000 after acquiring an additional 85 shares during the last quarter. Cornerstone Wealth Management LLC grew its position in shares of Phillips 66 by 1.3% during the 4th quarter. Cornerstone Wealth Management LLC now owns 6,495 shares of the oil and gas company's stock valued at $865,000 after acquiring an additional 86 shares during the period. Finally, Stratos Wealth Partners LTD. raised its holdings in Phillips 66 by 0.4% in the 4th quarter. Stratos Wealth Partners LTD. now owns 22,214 shares of the oil and gas company's stock worth $2,958,000 after purchasing an additional 90 shares during the period. 76.93% of the stock is owned by institutional investors.

Phillips 66 Stock Performance

PSX traded up $1.73 during midday trading on Wednesday, hitting $146.94. 2,915,394 shares of the company were exchanged, compared to its average volume of 2,940,190. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $174.08. The company has a current ratio of 1.17, a quick ratio of 0.82 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $62.30 billion, a price-to-earnings ratio of 11.30, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41. The company's 50 day simple moving average is $155.48 and its 200 day simple moving average is $138.78.

Phillips 66 (NYSE:PSX - Get Free Report) last posted its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.15). Phillips 66 had a net margin of 3.84% and a return on equity of 19.19%. The firm had revenue of $36.44 billion for the quarter, compared to analysts' expectations of $35.87 billion. During the same period last year, the firm earned $4.21 earnings per share. As a group, sell-side analysts predict that Phillips 66 will post 13.17 earnings per share for the current year.

Phillips 66 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Monday, May 20th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.13%. This is a boost from Phillips 66's previous quarterly dividend of $1.05. Phillips 66's payout ratio is currently 32.31%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. JPMorgan Chase & Co. raised their price objective on Phillips 66 from $149.00 to $167.00 and gave the stock an "overweight" rating in a research note on Monday, April 1st. StockNews.com downgraded shares of Phillips 66 from a "buy" rating to a "hold" rating in a report on Monday. Barclays lowered their price objective on Phillips 66 from $155.00 to $147.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 30th. Piper Sandler boosted their price target on Phillips 66 from $169.00 to $187.00 and gave the stock an "overweight" rating in a report on Friday, April 5th. Finally, Bank of America upped their target price on shares of Phillips 66 from $150.00 to $180.00 and gave the stock a "neutral" rating in a research report on Friday, March 15th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $157.43.

Insider Buying and Selling at Phillips 66

In other news, EVP Richard G. Harbison sold 21,934 shares of the company's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $146.27, for a total transaction of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company's stock, valued at $3,648,120.07. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Joseph Scott Pruitt sold 5,922 shares of the firm's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $157.40, for a total transaction of $932,122.80. Following the completion of the sale, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richard G. Harbison sold 21,934 shares of the firm's stock in a transaction on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the sale, the executive vice president now directly owns 24,941 shares of the company's stock, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 over the last quarter. 0.22% of the stock is currently owned by insiders.

Phillips 66 Company 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.

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