Kentucky Retirement Systems Has $9.02 Million Stake in Phillips 66 $PSX

Kentucky Retirement Systems increased its position in shares of Phillips 66 (NYSE:PSX) by 93.4% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 49,499 shares of the oil and gas company’s stock after buying an additional 23,905 shares during the quarter. Kentucky Retirement Systems’ holdings in Phillips 66 were worth $9,018,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC grew its position in shares of Phillips 66 by 71.8% in the first quarter. Janus Henderson Group PLC now owns 39,267 shares of the oil and gas company’s stock valued at $7,154,000 after purchasing an additional 16,414 shares during the last quarter. Bull Harbor Capital LLC bought a new stake in Phillips 66 during the 1st quarter valued at approximately $1,900,000. Encore Global Management LP bought a new position in Phillips 66 in the 1st quarter worth approximately $2,004,000. Amundi lifted its holdings in shares of Phillips 66 by 62.0% during the first quarter. Amundi now owns 3,667,451 shares of the oil and gas company’s stock worth $668,137,000 after buying an additional 1,403,493 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its stake in shares of Phillips 66 by 31.9% in the first quarter. EverSource Wealth Advisors LLC now owns 12,446 shares of the oil and gas company’s stock worth $2,268,000 after acquiring an additional 3,007 shares during the last quarter. 76.93% of the stock is currently owned by institutional investors.

Phillips 66 Stock Up 0.5%

Shares of PSX opened at $206.97 on Thursday. The firm has a market capitalization of $82.98 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 0.16 and a beta of 0.69. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. Phillips 66 has a 52 week low of $118.07 and a 52 week high of $216.08. The business’s fifty day moving average price is $184.11 and its two-hundred day moving average price is $169.90.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.90) EPS. On average, analysts predict that Phillips 66 will post 22.43 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm 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 is Tuesday, August 18th. This represents a $5.08 annualized dividend and a yield of 2.5%. Phillips 66’s payout ratio is currently 50.05%.

More Phillips 66 News

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Energy-sector momentum: Energy stocks rallied late Wednesday, with the NYSE Energy Sector Index rising 2.3%, providing a favorable backdrop for refiners such as Phillips 66. Sector Update: Energy Stocks Gain Late Afternoon
• Positive Sentiment: Refining margins remain supportive: Iran-related supply disruptions and record crack spreads are improving the earnings outlook for U.S. refiners. Phillips 66 has also benefited from better recent results, shareholder returns and a quarterly dividend of $1.27, or $5.08 annualized. Phillips 66 Gains On Refining Strength, Is The Stock Fully Priced?
• Positive Sentiment: Potential asset-sale proceeds: Phillips 66 and Shell are reportedly considering selling their stakes in Explorer, which owns a major refined-products pipeline valued at approximately $3.5 billion. A transaction could unlock value and strengthen PSX’s balance sheet, although no deal is confirmed. Shell, Phillips 66 weigh sale of stakes in $3.5 billion US pipeline Explorer

Analysts Set New Price Targets

Several research firms have recently issued reports on PSX. Guggenheim upgraded shares of Phillips 66 to an “outperform” rating in a report on Wednesday, May 27th. Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. TD Cowen boosted their price target on Phillips 66 from $220.00 to $240.00 and gave the company a “buy” rating in a research note on Tuesday, July 21st. Mizuho upgraded Phillips 66 from a “neutral” rating to an “outperform” rating and upped their price target for the company from $170.00 to $212.00 in a research report on Wednesday, May 27th. Finally, JPMorgan Chase & Co. increased their price objective on Phillips 66 from $188.00 to $202.00 in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $201.72.

Insider Activity

In other news, EVP Vanessa Allen Sutherland sold 3,523 shares of the firm’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total transaction of $743,529.15. Following the completion of the transaction, the executive vice president directly owned 27,537 shares of the company’s stock, valued at $5,811,683.85. This trade represents a 11.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin J. Mitchell sold 29,400 shares of the firm’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 completion of the transaction, the chief financial officer directly owned 97,376 shares of the company’s stock, valued at approximately $16,553,920. This trade represents a 23.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 45,107 shares of company stock worth $8,057,584 in the last 90 days. Corporate insiders own 0.40% of the company’s stock.

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.