State of New Jersey Common Pension Fund D Has $19.44 Million Stock Holdings in Phillips 66 $PSX

State of New Jersey Common Pension Fund D raised its stake in Phillips 66 (NYSE:PSX) by 2.5% in the third quarter, Holdings Channel reports. The firm owned 142,888 shares of the oil and gas company’s stock after acquiring an additional 3,536 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Phillips 66 were worth $19,436,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Evolution Wealth Management Inc. bought a new position in shares of Phillips 66 in the second quarter valued at $25,000. Winnow Wealth LLC bought a new position in shares of Phillips 66 in the 3rd quarter valued at about $36,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Phillips 66 during the 2nd quarter worth about $32,000. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Phillips 66 during the 2nd quarter worth about $38,000. Finally, AXS Investments LLC bought a new stake in shares of Phillips 66 in the 3rd quarter valued at about $44,000. Institutional investors own 76.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PSX. Mizuho boosted their price target on Phillips 66 from $150.00 to $152.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Citigroup boosted their target price on Phillips 66 from $146.00 to $159.00 and gave the stock a “neutral” rating in a report on Monday, February 9th. Weiss Ratings restated a “hold (c)” rating on shares of Phillips 66 in a research note on Thursday, January 22nd. UBS Group reaffirmed a “buy” rating and set a $172.00 price objective on shares of Phillips 66 in a research report on Friday, February 6th. Finally, Raymond James Financial raised their target price on shares of Phillips 66 from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Ten equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $158.72.

Phillips 66 Stock Up 2.2%

PSX opened at $159.75 on Monday. The stock has a fifty day moving average of $140.39 and a 200-day moving average of $134.92. The company has a market capitalization of $64.37 billion, a P/E ratio of 14.76, a P/E/G ratio of 0.56 and a beta of 0.90. Phillips 66 has a fifty-two week low of $91.01 and a fifty-two week high of $163.79. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23.

Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.15 by $0.32. The business had revenue of $32.16 billion for the quarter, compared to analyst estimates of $33.81 billion. Phillips 66 had a net margin of 3.22% and a return on equity of 9.28%. During the same period last year, the firm earned ($0.15) earnings per share. On average, equities analysts expect that Phillips 66 will post 6.8 EPS for the current year.

Phillips 66 Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be given a dividend of $1.27 per share. This is an increase from Phillips 66’s previous quarterly dividend of $1.20. This represents a $5.08 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Monday, February 23rd. Phillips 66’s dividend payout ratio (DPR) is currently 44.36%.

Insiders Place Their Bets

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,394 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total transaction of $659,100.00. Following the sale, the executive vice president directly owned 25,799 shares in the company, valued at $3,869,850. This represents a 14.55% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Brian Mandell sold 26,200 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The shares were sold at an average price of $137.68, for a total transaction of $3,607,216.00. Following the completion of the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,825,455.84. This represents a 31.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 60,488 shares of company stock worth $8,474,466. Corporate insiders own 0.22% of the company’s stock.

Phillips 66 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.