OLD Republic International Corp Has $37.36 Million Stock Position in Phillips 66 (NYSE:PSX)

OLD Republic International Corp cut its position in Phillips 66 (NYSE:PSX) by 35.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 280,600 shares of the oil and gas company’s stock after selling 155,300 shares during the period. OLD Republic International Corp owned 0.06% of Phillips 66 worth $37,359,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC lifted its stake in Phillips 66 by 4.2% during the 3rd quarter. Barclays PLC now owns 7,760,709 shares of the oil and gas company’s stock valued at $932,447,000 after acquiring an additional 309,239 shares in the last quarter. Morgan Stanley raised its stake in shares of Phillips 66 by 2.1% during the 3rd quarter. Morgan Stanley now owns 6,768,960 shares of the oil and gas company’s stock worth $813,291,000 after purchasing an additional 138,646 shares during the period. Northern Trust Corp boosted its holdings in shares of Phillips 66 by 6.2% in the 3rd quarter. Northern Trust Corp now owns 4,881,094 shares of the oil and gas company’s stock worth $586,463,000 after buying an additional 283,010 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Phillips 66 by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,924,738 shares of the oil and gas company’s stock valued at $389,393,000 after buying an additional 28,826 shares during the period. Finally, LSV Asset Management boosted its stake in Phillips 66 by 2.0% in the fourth quarter. LSV Asset Management now owns 1,967,536 shares of the oil and gas company’s stock valued at $261,958,000 after acquiring an additional 38,673 shares during the last quarter. 76.93% of the stock is owned by institutional investors.

Phillips 66 Price Performance

NYSE PSX traded down $1.87 during trading hours on Friday, reaching $145.85. 514,005 shares of the stock traded hands, compared to its average volume of 2,904,754. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.17 and a quick ratio of 0.82. The stock has a 50 day simple moving average of $155.70 and a two-hundred day simple moving average of $138.90. Phillips 66 has a 1 year low of $89.74 and a 1 year high of $174.08. The company has a market cap of $61.83 billion, a price-to-earnings ratio of 11.23, a price-to-earnings-growth ratio of 1.82 and a beta of 1.41.

Phillips 66 (NYSE:PSX) last issued its earnings results on Friday, April 26th. The oil and gas company reported $1.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.15). The firm had revenue of $36.44 billion during the quarter, compared to analysts’ expectations of $35.87 billion. Phillips 66 had a return on equity of 19.19% and a net margin of 3.84%. During the same period in the prior year, the company earned $4.21 EPS. On average, analysts predict that Phillips 66 will post 13.17 EPS for the current fiscal year.

Phillips 66 Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Investors of record on Monday, May 20th will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 3.15%. The ex-dividend date of this dividend is Friday, May 17th. This is a boost from Phillips 66’s previous quarterly dividend of $1.05. Phillips 66’s dividend payout ratio (DPR) is presently 32.31%.

Insiders Place Their Bets

In other news, Director Robert W. Pease bought 682 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were purchased at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the completion of the acquisition, the director now owns 1,900 shares of the company’s stock, valued at $278,502. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Phillips 66 news, Director Robert W. Pease purchased 682 shares of Phillips 66 stock in a transaction that occurred on Thursday, February 15th. The shares were bought at an average price of $146.58 per share, for a total transaction of $99,967.56. Following the acquisition, the director now directly owns 1,900 shares in the company, valued at $278,502. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Richard G. Harbison sold 21,934 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $146.27, for a total value of $3,208,286.18. Following the completion of the sale, the executive vice president now owns 24,941 shares of the company’s stock, valued at approximately $3,648,120.07. The disclosure for this sale can be found here. Insiders sold 35,056 shares of company stock valued at $5,272,681 over the last three months. Insiders own 0.22% of the company’s stock.

Analyst Ratings Changes

PSX has been the subject of several research analyst reports. Mizuho decreased their price target on shares of Phillips 66 from $167.00 to $162.00 and set a “neutral” rating for the company in a research note on Friday, April 12th. Scotiabank raised their target price on Phillips 66 from $148.00 to $156.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Piper Sandler upped their price target on Phillips 66 from $169.00 to $187.00 and gave the company an “overweight” rating in a research report on Friday, April 5th. Wells Fargo & Company lifted their price objective on Phillips 66 from $179.00 to $191.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Finally, Citigroup started coverage on shares of Phillips 66 in a report on Wednesday, January 24th. They set a “buy” rating on the stock. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Phillips 66 has a consensus rating of “Moderate Buy” and an average target price of $157.43.

About Phillips 66

Phillips 66 operates as an energy manufacturing and logistics company in the United States, the United Kingdom, Germany, and internationally. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). The Midstream segment transports crude oil and other feedstocks; delivers refined petroleum products to market; provides terminaling and storage services for crude oil and refined petroleum products; transports, stores, fractionates, exports, and markets natural gas liquids; provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.