Phillips 66 $PSX Shares Acquired by Oregon Public Employees Retirement Fund

Oregon Public Employees Retirement Fund increased its position in shares of Phillips 66 (NYSE:PSX) by 31.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,160 shares of the oil and gas company’s stock after acquiring an additional 11,011 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Phillips 66 were worth $6,279,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Elliott Investment Management L.P. lifted its stake in Phillips 66 by 22.4% in the second quarter. Elliott Investment Management L.P. now owns 19,251,000 shares of the oil and gas company’s stock valued at $2,296,644,000 after buying an additional 3,526,000 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Phillips 66 by 14.8% during the second quarter. Vanguard Group Inc. now owns 46,368,000 shares of the oil and gas company’s stock worth $5,531,702,000 after acquiring an additional 5,978,841 shares during the last quarter. Chronos Wealth Management LLC acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $281,000. Edgestream Partners L.P. purchased a new stake in Phillips 66 in the 2nd quarter valued at $4,952,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in Phillips 66 by 5.0% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 209,700 shares of the oil and gas company’s stock worth $28,523,000 after purchasing an additional 10,000 shares during the period. 76.93% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Phillips 66

In other news, EVP Brian Mandell sold 26,200 shares of the stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total value of $3,607,216.00. Following the completion of the transaction, the executive vice president owned 56,838 shares in the company, valued at $7,825,455.84. This trade represents a 31.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kevin J. Mitchell sold 30,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the sale, the chief financial officer owned 89,771 shares of the company’s stock, valued at $12,388,398. This trade represents a 25.05% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 86,094 shares of company stock valued at $11,955,366 in the last ninety days. 0.22% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have commented on PSX shares. Wall Street Zen lowered shares of Phillips 66 from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. Piper Sandler dropped their price target on Phillips 66 from $171.00 to $155.00 and set a “neutral” rating on the stock in a research report on Thursday. TD Cowen increased their price objective on Phillips 66 from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Wells Fargo & Company lifted their target price on Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, Morgan Stanley boosted their target price on Phillips 66 from $128.00 to $140.00 and gave the company an “equal weight” rating in a report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $146.88.

Phillips 66 Stock Performance

NYSE PSX opened at $142.24 on Friday. The stock has a market capitalization of $57.31 billion, a price-to-earnings ratio of 38.86, a PEG ratio of 0.38 and a beta of 0.90. The business’s 50 day moving average is $135.86 and its two-hundred day moving average is $131.32. Phillips 66 has a 12-month low of $91.01 and a 12-month high of $145.68. The company has a current ratio of 1.23, a quick ratio of 0.87 and a debt-to-equity ratio of 0.68.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.38. The firm had revenue of $33.69 billion for the quarter, compared to the consensus estimate of $32.29 billion. Phillips 66 had a return on equity of 5.53% and a net margin of 1.12%.During the same period in the previous year, the business earned $2.04 earnings per share. Research analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Company Profile

Phillips 66 (NYSE: PSX) is an independent energy manufacturing and logistics company engaged primarily in refining, midstream transportation, marketing and chemicals. The company processes crude oil into transportation fuels, lubricants and other petroleum products, operates pipeline and storage infrastructure, and participates in petrochemical production through strategic investments. Phillips 66 serves commercial, industrial and retail customers and positions its operations across the value chain of the downstream energy sector.

The company’s principal activities include refining crude oil into gasoline, diesel, jet fuel and feedstocks for petrochemical production; operating midstream assets such as pipelines, terminals and fractionators that move and store crude oil and natural gas liquids; and marketing and distributing fuels and lubricants through wholesale and retail channels.