OMERS ADMINISTRATION Corp Buys Shares of 33,427 Phillips 66 $PSX

OMERS ADMINISTRATION Corp purchased a new stake in Phillips 66 (NYSE:PSX) in the second quarter, HoldingsChannel reports. The firm purchased 33,427 shares of the oil and gas company’s stock, valued at approximately $5,651,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Osmosis Investment Management UK Ltd acquired a new position in Phillips 66 during the second quarter worth about $1,051,000. Sanctuary Advisors LLC acquired a new stake in shares of Phillips 66 in the second quarter valued at approximately $13,747,000. Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Phillips 66 during the 2nd quarter worth approximately $431,000. Burk Holdings LLC purchased a new position in shares of Phillips 66 during the 2nd quarter worth approximately $147,000. Finally, Barrow Hanley Mewhinney & Strauss LLC acquired a new position in shares of Phillips 66 during the 2nd quarter worth approximately $110,964,000. 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 11,021 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $18,504,361.28. This trade represents a 10.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Richard G. Harbison sold 52,100 shares of Phillips 66 stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $223.76, for a total value of $11,657,896.00. Following the completion of the sale, the executive vice president owned 39,094 shares of the company’s stock, valued at $8,747,673.44. This trade represents a 57.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 100,507 shares of company stock worth $21,770,810 over the last ninety days. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on PSX shares. Wells Fargo & Company upped their target price on Phillips 66 from $201.00 to $239.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. TD Cowen raised their price target on Phillips 66 from $240.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, August 6th. Wall Street Zen raised Phillips 66 from a “buy” rating to a “strong-buy” rating in a report on Sunday, July 26th. Guggenheim upgraded Phillips 66 to an “outperform” rating in a research report on Wednesday, May 27th. Finally, Barclays increased their price objective on Phillips 66 from $183.00 to $216.00 and gave the company an “equal weight” rating in a research note on Thursday, August 6th. One equities research 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 company. According to MarketBeat.com, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus target price of $206.56.

Phillips 66 Stock Performance

Shares of PSX opened at $241.88 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.00 and a current ratio of 1.32. The company has a market capitalization of $96.51 billion, a price-to-earnings ratio of 13.78, a PEG ratio of 0.18 and a beta of 0.68. The company’s 50 day simple moving average is $200.25 and its 200 day simple moving average is $180.36. Phillips 66 has a 1 year low of $126.74 and a 1 year high of $246.95.

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

Phillips 66 announced that its board has initiated a share repurchase plan on Friday, July 31st that authorizes the company to repurchase $10.00 billion in shares. This repurchase authorization authorizes the oil and gas company to repurchase up to 11.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be issued a dividend of $1.27 per share. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.1%. Phillips 66’s dividend payout ratio (DPR) is 28.95%.

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.