Healthcare of Ontario Pension Plan Trust Fund Acquires 9,378 Shares of Phillips 66 $PSX

Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Phillips 66 (NYSE:PSX) by 58.9% in the first quarter, Holdings Channel.com reports. The fund owned 25,306 shares of the oil and gas company’s stock after acquiring an additional 9,378 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Phillips 66 were worth $4,610,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Phillips 66 by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock worth $6,701,052,000 after purchasing an additional 205,480 shares during the last quarter. State Street Corp grew its holdings in shares of Phillips 66 by 0.8% in the fourth quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock worth $3,043,996,000 after purchasing an additional 175,616 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Phillips 66 by 0.4% in the fourth quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock worth $1,338,596,000 after purchasing an additional 45,340 shares during the last quarter. Norges Bank purchased a new position in Phillips 66 in the 4th quarter worth about $640,206,000. Finally, Charles Schwab Investment Management Inc. increased its stake in Phillips 66 by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company’s stock worth $509,006,000 after buying an additional 89,621 shares during the period. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 3,523 shares of the stock in a transaction on Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total transaction of $743,529.15. Following the sale, the executive vice president owned 27,537 shares of the company’s stock, valued at approximately $5,811,683.85. This trade represents a 11.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin J. Mitchell sold 29,400 shares of the business’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $170.00, for a total value of $4,998,000.00. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,553,920. The trade was a 23.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 45,107 shares of company stock valued at $8,057,584 over the last 90 days. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on PSX shares. Jefferies Financial Group boosted their price objective on shares of Phillips 66 from $191.00 to $207.00 and gave the company a “hold” rating in a research report on Thursday, July 9th. Weiss Ratings lowered shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. UBS Group lifted their price target on shares of Phillips 66 from $212.00 to $235.00 and gave the company a “buy” rating in a research note on Monday. Morgan Stanley boosted their price target on Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a report on Friday, June 12th. Finally, Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $201.72.

Phillips 66 Stock Up 0.5%

Shares of Phillips 66 stock opened at $206.97 on Thursday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 0.85. The stock has a market cap of $82.98 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 0.16 and a beta of 0.69. The firm’s 50-day moving average is $184.11 and its two-hundred day moving average is $169.90. Phillips 66 has a 1 year low of $118.07 and a 1 year high of $216.08.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.54) by $1.03. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same quarter in the previous year, the business posted ($0.90) EPS. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, research analysts expect that Phillips 66 will post 22.43 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is presently 50.05%.

Key Headlines Impacting Phillips 66

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Energy-sector momentum: Energy stocks rallied late Wednesday, with the NYSE Energy Sector Index rising 2.3%, providing a favorable backdrop for refiners such as Phillips 66. Sector Update: Energy Stocks Gain Late Afternoon
• Positive Sentiment: Refining margins remain supportive: Iran-related supply disruptions and record crack spreads are improving the earnings outlook for U.S. refiners. Phillips 66 has also benefited from better recent results, shareholder returns and a quarterly dividend of $1.27, or $5.08 annualized. Phillips 66 Gains On Refining Strength, Is The Stock Fully Priced?
• Positive Sentiment: Potential asset-sale proceeds: Phillips 66 and Shell are reportedly considering selling their stakes in Explorer, which owns a major refined-products pipeline valued at approximately $3.5 billion. A transaction could unlock value and strengthen PSX’s balance sheet, although no deal is confirmed. Shell, Phillips 66 weigh sale of stakes in $3.5 billion US pipeline Explorer

About Phillips 66

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.