Phillips 66 (NYSE:PSX) Shares Sold by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund lowered its holdings in shares of Phillips 66 (NYSE:PSX) by 1.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,375 shares of the oil and gas company’s stock after selling 390 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Phillips 66 were worth $5,135,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of PSX. Madison Park Capital Advisors LLC lifted its position in shares of Phillips 66 by 3.0% during the 1st quarter. Madison Park Capital Advisors LLC now owns 2,346 shares of the oil and gas company’s stock valued at $383,000 after buying an additional 68 shares in the last quarter. Premier Path Wealth Partners LLC lifted its holdings in Phillips 66 by 1.6% during the first quarter. Premier Path Wealth Partners LLC now owns 4,464 shares of the oil and gas company’s stock valued at $729,000 after purchasing an additional 71 shares in the last quarter. Warwick Investment Management Inc. grew its position in shares of Phillips 66 by 3.1% in the fourth quarter. Warwick Investment Management Inc. now owns 2,395 shares of the oil and gas company’s stock valued at $319,000 after purchasing an additional 73 shares during the period. MV Capital Management Inc. increased its stake in shares of Phillips 66 by 9.6% during the first quarter. MV Capital Management Inc. now owns 837 shares of the oil and gas company’s stock worth $137,000 after purchasing an additional 73 shares in the last quarter. Finally, HCR Wealth Advisors raised its position in shares of Phillips 66 by 2.9% during the 4th quarter. HCR Wealth Advisors now owns 2,640 shares of the oil and gas company’s stock worth $351,000 after purchasing an additional 74 shares during the last quarter. 76.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on Phillips 66 from $176.00 to $182.00 and gave the stock an “overweight” rating in a report on Tuesday. Wolfe Research started coverage on Phillips 66 in a research note on Thursday, July 18th. They issued a “peer perform” rating on the stock. Barclays increased their price objective on Phillips 66 from $136.00 to $138.00 and gave the company an “equal weight” rating in a research note on Monday, August 5th. Argus restated a “buy” rating and issued a $167.00 price objective on shares of Phillips 66 in a report on Thursday, May 30th. Finally, Piper Sandler dropped their target price on shares of Phillips 66 from $170.00 to $151.00 and set an “overweight” rating for the company in a report on Friday, June 14th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and a consensus target price of $157.85.

Insider Transactions at Phillips 66

In related news, CFO Kevin J. Mitchell sold 30,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $139.01, for a total value of $4,170,300.00. Following the sale, the chief financial officer now directly owns 81,937 shares in the company, valued at approximately $11,390,062.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of PSX stock opened at $132.29 on Thursday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.14 and a quick ratio of 0.79. The company has a market capitalization of $55.37 billion, a PE ratio of 10.18, a price-to-earnings-growth ratio of 2.53 and a beta of 1.33. The firm’s 50-day moving average is $137.63 and its two-hundred day moving average is $145.05. Phillips 66 has a 12 month low of $107.85 and a 12 month high of $174.08.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Tuesday, July 30th. The oil and gas company reported $2.31 EPS for the quarter, beating the consensus estimate of $1.98 by $0.33. The firm had revenue of $38.91 billion for the quarter, compared to analyst estimates of $37.79 billion. Phillips 66 had a net margin of 3.32% and a return on equity of 16.77%. The business’s revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.87 EPS. Analysts predict that Phillips 66 will post 9.25 earnings per share for the current year.

Phillips 66 Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Stockholders of record on Tuesday, August 20th were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.48%. The ex-dividend date was Tuesday, August 20th. Phillips 66’s dividend payout ratio (DPR) is presently 35.38%.

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.