Securian Asset Management Inc. Reduces Position in Phillips 66 $PSX

Securian Asset Management Inc. decreased its position in Phillips 66 (NYSE:PSX) by 43.9% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 10,956 shares of the oil and gas company’s stock after selling 8,560 shares during the period. Securian Asset Management Inc.’s holdings in Phillips 66 were worth $1,414,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in PSX. Vanguard Group Inc. grew its holdings in shares of Phillips 66 by 11.6% in the third quarter. Vanguard Group Inc. now owns 51,724,558 shares of the oil and gas company’s stock worth $7,035,574,000 after purchasing an additional 5,356,558 shares during the last quarter. M&T Bank Corp grew its holdings in shares of Phillips 66 by 462.9% in the fourth quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock worth $352,007,000 after purchasing an additional 2,243,268 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Phillips 66 by 424.7% in the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock worth $257,512,000 after purchasing an additional 1,532,389 shares during the last quarter. Worldquant Millennium Advisors LLC bought a new position in shares of Phillips 66 in the second quarter worth approximately $107,967,000. Finally, Holocene Advisors LP grew its holdings in shares of Phillips 66 by 2,433.1% in the second quarter. Holocene Advisors LP now owns 711,599 shares of the oil and gas company’s stock worth $84,894,000 after purchasing an additional 683,507 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In other news, Director Lisa Ann Davis sold 3,800 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $174.37, for a total transaction of $662,606.00. Following the sale, the director owned 8,701 shares in the company, valued at approximately $1,517,193.37. The trade was a 30.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kevin Omar Meyers bought 175 shares of Phillips 66 stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average cost of $173.12 per share, for a total transaction of $30,296.00. Following the completion of the transaction, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 91,529 shares of company stock valued at $15,740,519 over the last quarter. 0.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

PSX has been the topic of several recent analyst reports. Morgan Stanley restated an “overweight” rating and issued a $180.00 target price on shares of Phillips 66 in a report on Thursday, April 30th. BMO Capital Markets raised their target price on shares of Phillips 66 from $175.00 to $195.00 and gave the stock an “outperform” rating in a report on Tuesday, April 7th. Raymond James Financial raised their target price on shares of Phillips 66 from $205.00 to $215.00 in a report on Thursday, April 30th. JPMorgan Chase & Co. raised their target price on shares of Phillips 66 from $188.00 to $202.00 in a report on Thursday, April 30th. Finally, Citigroup raised their target price on shares of Phillips 66 from $159.00 to $183.00 and gave the stock a “neutral” rating in a report on Thursday, April 9th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $184.50.

Phillips 66 Stock Performance

NYSE:PSX opened at $175.13 on Tuesday. The stock has a market cap of $70.21 billion, a P/E ratio of 17.25, a price-to-earnings-growth ratio of 0.26 and a beta of 0.70. The firm’s fifty day simple moving average is $169.65 and its 200 day simple moving average is $150.82. Phillips 66 has a twelve month low of $109.75 and a twelve month high of $190.61. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $1.03. The business had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm’s revenue for the quarter was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.90) earnings per share. As a group, research analysts predict that Phillips 66 will post 17.39 EPS for the current year.

Phillips 66 Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be issued a $1.27 dividend. The ex-dividend date is Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.9%. Phillips 66’s payout ratio is 50.05%.

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.