South Dakota Investment Council Has $4 Million Stock Holdings in Phillips 66 (NYSE:PSX)

South Dakota Investment Council lessened its position in Phillips 66 (NYSE:PSX) by 38.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,053 shares of the oil and gas company’s stock after selling 18,708 shares during the quarter. South Dakota Investment Council’s holdings in Phillips 66 were worth $4,001,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cedar Brook Financial Partners LLC acquired a new position in shares of Phillips 66 during the 3rd quarter worth approximately $219,000. Exchange Traded Concepts LLC boosted its stake in shares of Phillips 66 by 3,825.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 1,727 shares of the oil and gas company’s stock worth $207,000 after acquiring an additional 1,683 shares during the period. Strategic Blueprint LLC boosted its stake in shares of Phillips 66 by 9.3% during the 3rd quarter. Strategic Blueprint LLC now owns 2,330 shares of the oil and gas company’s stock worth $280,000 after acquiring an additional 198 shares during the period. Capital Advisory Group Advisory Services LLC bought a new position in shares of Phillips 66 during the 3rd quarter worth approximately $279,000. Finally, UMB Bank n.a. boosted its stake in Phillips 66 by 0.7% in the 3rd quarter. UMB Bank n.a. now owns 42,750 shares of the oil and gas company’s stock valued at $5,136,000 after purchasing an additional 278 shares during the period. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insiders Place Their Bets

In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Phillips 66 news, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Joseph Scott Pruitt sold 7,200 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $157.26, for a total value of $1,132,272.00. Following the completion of the transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at approximately $1,035,242.58. The disclosure for this sale can be found here. Insiders sold a total of 35,056 shares of company stock valued at $5,272,681 in the last 90 days. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PSX. StockNews.com downgraded Phillips 66 from a “buy” rating to a “hold” rating in a research note on Thursday, April 18th. Piper Sandler boosted their price target on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, April 5th. Scotiabank boosted their price target on Phillips 66 from $148.00 to $156.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Raymond James boosted their price target on Phillips 66 from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Finally, Citigroup assumed coverage on Phillips 66 in a research note on Wednesday, January 24th. They issued a “buy” rating for the company. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $158.00.

Phillips 66 Price Performance

Phillips 66 stock opened at $157.82 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. Phillips 66 has a 52 week low of $89.74 and a 52 week high of $174.08. The stock has a market capitalization of $67.52 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 1.95 and a beta of 1.37. The stock has a fifty day moving average of $155.18 and a 200-day moving average of $136.46.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The company had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. On average, sell-side analysts expect that Phillips 66 will post 13.59 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Monday, May 20th will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio is presently 27.15%.

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.