Phillips 66 $PSX Shares Acquired by State of Wyoming

State of Wyoming raised its holdings in Phillips 66 (NYSE:PSX) by 182.6% in the first quarter, HoldingsChannel reports. The institutional investor owned 4,833 shares of the oil and gas company’s stock after acquiring an additional 3,123 shares during the quarter. State of Wyoming’s holdings in Phillips 66 were worth $880,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Cetera Investment Advisers raised its stake in Phillips 66 by 8.5% in the 1st quarter. Cetera Investment Advisers now owns 258,194 shares of the oil and gas company’s stock worth $47,038,000 after acquiring an additional 20,322 shares during the last quarter. Prestige Wealth Management Group LLC boosted its position in Phillips 66 by 76.8% in the first quarter. Prestige Wealth Management Group LLC now owns 633 shares of the oil and gas company’s stock valued at $115,000 after buying an additional 275 shares during the last quarter. Clearwater Capital Advisors LLC purchased a new stake in Phillips 66 in the first quarter valued at approximately $214,000. First Trust Advisors LP increased its holdings in Phillips 66 by 40.1% in the 1st quarter. First Trust Advisors LP now owns 277,463 shares of the oil and gas company’s stock worth $50,548,000 after buying an additional 79,349 shares during the period. Finally, Saturna Capital Corp raised its position in Phillips 66 by 48.2% during the 1st quarter. Saturna Capital Corp now owns 8,334 shares of the oil and gas company’s stock worth $1,518,000 after buying an additional 2,710 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other Phillips 66 news, Director Kevin Omar Meyers purchased 175 shares of Phillips 66 stock in a transaction that occurred on Wednesday, May 6th. The stock was bought at an average price of $173.12 per share, with a total value of $30,296.00. Following the acquisition, the director owned 16,799 shares of the company’s stock, valued at $2,908,242.88. This trade represents a 1.05% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 97,376 shares in the company, valued at $16,553,920. This represents a 23.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 41,021 shares of company stock valued at $7,195,257. Insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on PSX. Citigroup lifted their price objective on shares of Phillips 66 from $183.00 to $204.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Weiss Ratings cut shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Barclays boosted their target price on shares of Phillips 66 from $177.00 to $183.00 and gave the company an “equal weight” rating in a research report on Thursday, July 9th. Jefferies Financial Group upped their price target on shares of Phillips 66 from $191.00 to $207.00 and gave the company a “hold” rating in a report on Thursday, July 9th. Finally, Argus increased their price target on Phillips 66 from $185.00 to $197.00 and gave the stock a “buy” rating in a research report on Thursday, May 14th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $198.72.

Phillips 66 Trading Down 0.4%

Phillips 66 stock opened at $211.49 on Thursday. The firm has a market cap of $84.79 billion, a PE ratio of 20.84, a P/E/G ratio of 0.28 and a beta of 0.69. Phillips 66 has a 12 month low of $118.07 and a 12 month high of $216.08. The stock’s 50 day simple moving average is $181.23 and its two-hundred day simple moving average is $167.47. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last posted its 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. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The firm had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. During the same period in the previous year, the firm earned ($0.90) EPS. The business’s quarterly revenue was up 6.9% on a year-over-year basis. Analysts anticipate that Phillips 66 will post 19.84 earnings per share for the current year.

Phillips 66 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be issued a $1.27 dividend. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.4%. Phillips 66’s payout ratio is presently 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.