Great Lakes Retirement Inc. Purchases New Shares in Phillips 66 (NYSE:PSX)

Great Lakes Retirement Inc. acquired a new position in Phillips 66 (NYSE:PSX) during the fourth quarter, HoldingsChannel reports. The fund acquired 8,826 shares of the oil and gas company’s stock, valued at approximately $1,175,000.

Other large investors also recently made changes to their positions in the company. First Capital Advisors Group LLC. bought a new position in Phillips 66 in the 2nd quarter worth approximately $25,000. Cornerstone Planning Group LLC raised its holdings in Phillips 66 by 134.8% during the 3rd quarter. Cornerstone Planning Group LLC now owns 263 shares of the oil and gas company’s stock worth $32,000 after purchasing an additional 151 shares during the last quarter. Worth Asset Management LLC acquired a new position in Phillips 66 during the 1st quarter valued at about $32,000. Bruce G. Allen Investments LLC bought a new position in shares of Phillips 66 in the 4th quarter valued at about $36,000. Finally, Bell Investment Advisors Inc boosted its stake in Phillips 66 by 82.1% in the third quarter. Bell Investment Advisors Inc now owns 306 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 138 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other news, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total value of $1,132,272.00. Following the sale, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, VP Joseph Scott Pruitt sold 7,200 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $157.26, for a total transaction of $1,132,272.00. Following the completion of the sale, the vice president now owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Zhanna Golodryga sold 5,253 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $135.00, for a total transaction of $709,155.00. Following the transaction, the executive vice president now directly owns 24,914 shares in the company, valued at $3,363,390. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,309 shares of company stock worth $5,981,836. 4.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

PSX has been the subject of a number of research reports. Mizuho increased their target price on Phillips 66 from $135.00 to $167.00 and gave the stock a “neutral” rating in a research note on Friday, March 22nd. TD Cowen boosted their price target on Phillips 66 from $134.00 to $150.00 and gave the company an “outperform” rating in a report on Monday, December 4th. The Goldman Sachs Group upped their price target on Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Citigroup started coverage on shares of Phillips 66 in a research report on Wednesday, January 24th. They issued a “buy” rating on the stock. Finally, Raymond James boosted their price target on shares of Phillips 66 from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Four analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.69.

Phillips 66 Price Performance

Shares of NYSE:PSX traded up $4.07 during trading on Thursday, hitting $163.03. 1,859,828 shares of the company were exchanged, compared to its average volume of 3,160,926. The company has a market capitalization of $69.75 billion, a P/E ratio of 10.28, a price-to-earnings-growth ratio of 2.08 and a beta of 1.36. Phillips 66 has a 1-year low of $89.74 and a 1-year high of $163.03. The company has a quick ratio of 1.02, a current ratio of 1.26 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $145.66 and its 200-day moving average is $130.14.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping the consensus estimate of $2.37 by $0.72. The business had revenue of $38.74 billion for the quarter, compared to the consensus estimate of $34.30 billion. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. Equities analysts forecast that Phillips 66 will post 12.55 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Tuesday, February 20th were issued a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 2.58%. The ex-dividend date was Friday, February 16th. Phillips 66’s payout ratio is presently 27.15%.

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.