Public Employees Retirement System of Ohio Sells 3,453 Shares of Phillips 66 $PSX

Public Employees Retirement System of Ohio lessened its position in shares of Phillips 66 (NYSE:PSX) by 2.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,328 shares of the oil and gas company’s stock after selling 3,453 shares during the period. Public Employees Retirement System of Ohio’s holdings in Phillips 66 were worth $22,650,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PSX. Accordant Advisory Group Inc grew its holdings in Phillips 66 by 900.0% in the 4th quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 180 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Phillips 66 during the fourth quarter worth $27,000. NFSG Corp lifted its holdings in shares of Phillips 66 by 105.6% during the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after buying an additional 75 shares in the last quarter. SWAN Capital LLC boosted its holdings in Phillips 66 by 1,055.6% in the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 190 shares during the period. Finally, Sfam LLC acquired a new position in shares of Phillips 66 during the 4th quarter worth approximately $34,000. 76.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Phillips 66 news, CFO Kevin J. Mitchell sold 29,400 shares of the company’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,553,920. This represents a 23.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Kevin Omar Meyers acquired 175 shares of the stock in a transaction dated Wednesday, May 6th. The stock was acquired at an average cost of $173.12 per share, with a total value of $30,296.00. Following the completion of the transaction, the director owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders sold 41,021 shares of company stock worth $7,195,257. 0.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Jefferies Financial Group raised their target price on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. boosted their price target on Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. The Goldman Sachs Group increased their price target on Phillips 66 from $207.00 to $235.00 and gave the stock a “neutral” rating in a research report on Wednesday. Scotiabank raised their price objective on Phillips 66 from $140.00 to $151.00 and gave the stock a “sector perform” rating in a research note on Wednesday, April 22nd. Finally, Wells Fargo & Company lifted their price objective on Phillips 66 from $163.00 to $201.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. One 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’s stock. According to MarketBeat.com, Phillips 66 has an average rating of “Moderate Buy” and an average price target of $200.44.

Phillips 66 Price Performance

Shares of PSX opened at $206.94 on Friday. The company has a quick ratio of 0.85, a current ratio of 1.13 and a debt-to-equity ratio of 0.63. The stock has a market cap of $82.97 billion, a PE ratio of 20.39, a PEG ratio of 0.17 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 business has a 50-day simple moving average of $182.54 and a two-hundred day simple moving average of $168.28.

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, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The company had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same period in the previous year, the business posted ($0.90) earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Analysts anticipate that Phillips 66 will post 22.43 earnings per share for the current fiscal year.

Phillips 66 Announces Dividend

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

Phillips 66 Company Profile

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.