NFJ Investment Group LLC Purchases Shares of 189,084 Phillips 66 $PSX

NFJ Investment Group LLC acquired a new position in Phillips 66 (NYSE:PSX) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 189,084 shares of the oil and gas company’s stock, valued at approximately $31,965,000.

Several other hedge funds have also added to or reduced their stakes in PSX. NFSG Corp raised its position in shares of Phillips 66 by 105.6% in the 1st quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock valued at $27,000 after acquiring an additional 75 shares during the period. Axiom Investment Management LLC acquired a new position in Phillips 66 during the first quarter valued at approximately $27,000. SWAN Capital LLC increased its stake in Phillips 66 by 1,055.6% in the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 190 shares in the last quarter. Kelleher Financial Advisors bought a new stake in Phillips 66 in the second quarter valued at approximately $29,000. Finally, J.Safra Asset Management Corp acquired a new stake in Phillips 66 in the second quarter worth $30,000. Institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Down 1.2%

Shares of NYSE:PSX opened at $239.46 on Friday. The business’s 50 day moving average is $197.59 and its 200 day moving average is $178.99. Phillips 66 has a 12-month low of $122.25 and a 12-month high of $246.95. The stock has a market cap of $95.55 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 0.18 and a beta of 0.68. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.57.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, beating the consensus estimate of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The business had revenue of $52.04 billion for the quarter, compared to analysts’ expectations of $43.60 billion. During the same period last year, the business earned $2.38 EPS. On average, sell-side analysts forecast that Phillips 66 will post 23.86 earnings per share for the current fiscal year.

Phillips 66 declared that its board has authorized a share buyback plan on Friday, July 31st that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the oil and gas company to repurchase up to 11.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio is presently 28.95%.

Insider Activity

In other Phillips 66 news, CFO Kevin J. Mitchell sold 11,021 shares of the business’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $190.03, for a total value of $2,094,320.63. Following the transaction, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $18,504,361.28. The trade was a 10.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Brian Mandell sold 30,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total value of $6,450,000.00. Following the sale, the executive vice president directly owned 61,595 shares of the company’s stock, valued at approximately $13,242,925. This represents a 32.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 100,507 shares of company stock worth $21,770,810. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Guggenheim upgraded shares of Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. Jefferies Financial Group increased their price target on Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a report on Thursday, July 9th. BMO Capital Markets lifted their price objective on Phillips 66 from $195.00 to $215.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. JPMorgan Chase & Co. increased their target price on Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. Finally, Citigroup reaffirmed a “neutral” rating on shares of Phillips 66 in a research note on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $206.56.

Phillips 66 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.