Phillips 66 $PSX Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. raised its position in Phillips 66 (NYSE:PSX) by 14.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 555,125 shares of the oil and gas company’s stock after purchasing an additional 71,131 shares during the period. Russell Investments Group Ltd.’s holdings in Phillips 66 were worth $75,543,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Evolution Wealth Management Inc. acquired a new stake in Phillips 66 in the second quarter valued at $25,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Phillips 66 in the 2nd quarter valued at about $32,000. Winnow Wealth LLC purchased a new position in shares of Phillips 66 in the 3rd quarter valued at about $36,000. Twin Peaks Wealth Advisors LLC acquired a new stake in shares of Phillips 66 during the 2nd quarter worth about $38,000. Finally, Operose Advisors LLC raised its position in shares of Phillips 66 by 260.4% during the 2nd quarter. Operose Advisors LLC now owns 346 shares of the oil and gas company’s stock worth $41,000 after acquiring an additional 250 shares in the last quarter. Institutional investors and hedge funds own 76.93% of the company’s stock.

Insiders Place Their Bets

In other Phillips 66 news, CFO Kevin J. Mitchell sold 16,856 shares of Phillips 66 stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $168.22, for a total value of $2,835,516.32. Following the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,380,590.72. The trade was a 14.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Don Baldridge sold 7,500 shares of the company’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $160.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the executive vice president directly owned 38,488 shares of the company’s stock, valued at $6,158,080. The trade was a 16.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 38,088 shares of company stock valued at $6,147,655. Insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $162.60 on Wednesday. The stock has a market cap of $65.16 billion, a P/E ratio of 15.03, a P/E/G ratio of 0.57 and a beta of 0.86. Phillips 66 has a twelve month low of $91.01 and a twelve month high of $169.62. The stock has a 50 day moving average of $148.88 and a two-hundred day moving average of $139.30. The company has a current ratio of 1.30, a quick ratio of 0.91 and a debt-to-equity ratio of 0.62.

Phillips 66 (NYSE:PSX) last announced its earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. The business had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.13%. During the same period last year, the firm posted ($0.15) earnings per share. On average, research analysts forecast that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 4th. Shareholders of record on Monday, February 23rd were given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Monday, February 23rd. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. Phillips 66’s payout ratio is 46.95%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PSX shares. Zacks Research downgraded Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Friday, January 16th. Wolfe Research raised their price objective on shares of Phillips 66 from $159.00 to $164.00 and gave the stock an “outperform” rating in a report on Monday, January 26th. Weiss Ratings upgraded shares of Phillips 66 from a “hold (c)” rating to a “buy (b-)” rating in a report on Monday, February 23rd. Wall Street Zen raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. Finally, Scotiabank reiterated a “sector perform” rating and set a $140.00 price target on shares of Phillips 66 in a research note on Friday, January 16th. Eleven analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to MarketBeat, Phillips 66 presently has an average rating of “Hold” and an average target price of $160.11.

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.