Great Lakes Retirement Inc. Invests $1.18 Million in Phillips 66 (NYSE:PSX)

Great Lakes Retirement Inc. acquired a new stake in Phillips 66 (NYSE:PSX) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 8,826 shares of the oil and gas company’s stock, valued at approximately $1,175,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PSX. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new stake in shares of Phillips 66 in the fourth quarter worth $14,246,000. Planned Solutions Inc. bought a new stake in Phillips 66 during the 4th quarter worth about $130,000. RNC Capital Management LLC boosted its stake in shares of Phillips 66 by 0.8% during the 4th quarter. RNC Capital Management LLC now owns 362,636 shares of the oil and gas company’s stock worth $48,281,000 after buying an additional 2,894 shares during the last quarter. Columbia Trust Co 01012016 grew its holdings in shares of Phillips 66 by 6.8% in the 4th quarter. Columbia Trust Co 01012016 now owns 9,354 shares of the oil and gas company’s stock valued at $1,245,000 after acquiring an additional 599 shares in the last quarter. Finally, Waterway Wealth Management LLC acquired a new stake in shares of Phillips 66 in the fourth quarter valued at about $329,000. 76.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Raymond James raised 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. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $163.00 to $179.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. StockNews.com upgraded shares of Phillips 66 from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. The Goldman Sachs Group boosted their price objective on shares of Phillips 66 from $152.00 to $174.00 and gave the stock a “buy” rating in a research note on Friday, March 22nd. Finally, Mizuho raised their target price on shares of Phillips 66 from $135.00 to $167.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.69.

Phillips 66 Stock Performance

Shares of PSX stock traded up $4.07 on Thursday, hitting $163.03. The company’s stock had a trading volume of 1,859,828 shares, compared to its average volume of 3,160,926. Phillips 66 has a fifty-two week low of $89.74 and a fifty-two week high of $163.03. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.02 and a current ratio of 1.26. The stock’s 50 day moving average is $145.66 and its 200-day moving average is $130.14. The company has a market capitalization of $69.75 billion, a PE ratio of 10.28, a PEG ratio of 2.08 and a beta of 1.36.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, January 31st. The oil and gas company reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.37 by $0.72. Phillips 66 had a net margin of 4.68% and a return on equity of 22.10%. The firm had revenue of $38.74 billion for the quarter, compared to analyst estimates of $34.30 billion. Equities research analysts expect that Phillips 66 will post 12.55 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Tuesday, February 20th were given a dividend of $1.05 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.58%. Phillips 66’s payout ratio is 27.15%.

Insider Transactions at Phillips 66

In related news, VP Joseph Scott Pruitt sold 5,922 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was 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 of the company’s stock, valued at $1,036,164.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Joseph Scott Pruitt sold 5,922 shares of Phillips 66 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 transaction, the vice president now directly owns 6,583 shares of the company’s stock, valued at $1,036,164.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Richard G. Harbison sold 21,934 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at $3,648,120.07. The disclosure for this sale can be found here. In the last three months, insiders have sold 40,309 shares of company stock valued at $5,981,836. 4.57% of the stock is owned by corporate insiders.

About Phillips 66

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.