Alaska Permanent Fund Corp Sells 809 Shares of Phillips 66 (NYSE:PSX)

Alaska Permanent Fund Corp decreased its stake in shares of Phillips 66 (NYSE:PSX) by 1.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,780 shares of the oil and gas company’s stock after selling 809 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Phillips 66 were worth $11,021,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale increased its holdings in shares of Phillips 66 by 12.4% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 201,592 shares of the oil and gas company’s stock worth $26,501,000 after acquiring an additional 22,278 shares during the last quarter. Eldred Rock Partners LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $10,402,000. Choate Investment Advisors acquired a new position in shares of Phillips 66 during the 3rd quarter worth approximately $247,000. First Dallas Securities Inc. acquired a new position in shares of Phillips 66 during the 3rd quarter worth approximately $753,000. Finally, TIAA Trust National Association increased its holdings in shares of Phillips 66 by 32.9% during the 4th quarter. TIAA Trust National Association now owns 14,816 shares of the oil and gas company’s stock worth $1,973,000 after acquiring an additional 3,670 shares during the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insider Buying and Selling

In other Phillips 66 news, VP Joseph Scott Pruitt sold 5,922 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $157.40, for a total value of $932,122.80. Following the transaction, the vice president now owns 6,583 shares in the company, valued at $1,036,164.20. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Richard G. Harbison sold 21,934 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 24,941 shares in the company, valued at $3,648,120.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $932,122.80. Following the completion of the transaction, the vice president now owns 6,583 shares in the company, valued at approximately $1,036,164.20. 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 90 days. Company insiders own 0.22% of the company’s stock.

Phillips 66 Trading Down 0.4 %

Shares of PSX stock traded down $0.63 on Thursday, hitting $157.16. The company had a trading volume of 95,766 shares, compared to its average volume of 2,929,229. The stock’s 50-day moving average is $155.18 and its two-hundred day moving average is $136.46. Phillips 66 has a twelve month low of $89.74 and a twelve month high of $174.08. The firm has a market cap of $67.24 billion, a P/E ratio of 10.20, a P/E/G ratio of 1.95 and a beta of 1.37. 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 (NYSE:PSX) last released 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. Phillips 66 had a return on equity of 22.10% and a net margin of 4.68%. The business had revenue of $38.74 billion during the quarter, compared to analysts’ expectations of $34.30 billion. On average, equities research analysts anticipate that Phillips 66 will post 13.59 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be paid a dividend of $1.15 per share. The ex-dividend date is Friday, May 17th. This represents a $4.60 annualized dividend and a yield of 2.93%. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is currently 27.15%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Bank of America boosted their target price on Phillips 66 from $150.00 to $180.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Mizuho reduced their price target on Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Barclays boosted their price target on Phillips 66 from $139.00 to $155.00 and gave the company an “equal weight” rating in a research note on Thursday, April 18th. JPMorgan Chase & Co. boosted their price target on Phillips 66 from $149.00 to $167.00 and gave the company an “overweight” rating in a research note on Monday, April 1st. Finally, Piper Sandler upped their target price on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.00.

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.