760,293 Shares in Phillips 66 $PSX Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board acquired a new stake in shares of Phillips 66 (NYSE:PSX) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 760,293 shares of the oil and gas company’s stock, valued at approximately $128,528,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. NFSG Corp lifted its position 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 valued at $27,000 after buying an additional 75 shares during the last quarter. Axiom Investment Management LLC purchased a new position in shares of Phillips 66 in the 1st quarter worth approximately $27,000. SWAN Capital LLC raised its stake in shares of Phillips 66 by 1,055.6% during the 4th quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 190 shares in the last quarter. Compass Financial Management LLC purchased a new stake in Phillips 66 during the second quarter valued at approximately $28,000. Finally, Kelleher Financial Advisors acquired a new stake in Phillips 66 in the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Trading Up 2.3%

Shares of Phillips 66 stock opened at $242.27 on Thursday. The firm’s 50 day simple moving average is $203.06 and its two-hundred day simple moving average is $181.56. The firm has a market capitalization of $96.67 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 0.18 and a beta of 0.68. Phillips 66 has a 12-month low of $126.74 and a 12-month high of $246.95. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.57.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 EPS for the quarter, topping the consensus estimate of $7.50 by $1.91. The business had revenue of $52.04 billion during the quarter, compared to the consensus estimate of $43.60 billion. Phillips 66 had a net margin of 4.54% and a return on equity of 19.93%. During the same period in the previous year, the firm posted $2.38 earnings per share. Analysts predict that Phillips 66 will post 23.86 EPS for the current year.

Phillips 66 announced that its Board of Directors has approved a stock repurchase plan on Friday, July 31st that allows the company to buyback $10.00 billion in shares. This buyback authorization allows the oil and gas company to purchase up to 11.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Phillips 66 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Tuesday, August 18th will be paid a $1.27 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.1%. Phillips 66’s dividend payout ratio (DPR) is 28.95%.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 3,523 shares of Phillips 66 stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total transaction of $743,529.15. Following the completion of the sale, the executive vice president owned 27,537 shares of the company’s stock, valued at approximately $5,811,683.85. The trade was a 11.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin J. Mitchell sold 11,021 shares of the business’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $190.03, for a total value of $2,094,320.63. Following the sale, the chief financial officer owned 97,376 shares in the company, valued at approximately $18,504,361.28. The trade was a 10.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 100,507 shares of company stock worth $21,770,810. 0.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Zacks Research lowered shares of Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. JPMorgan Chase & Co. raised their price objective on Phillips 66 from $188.00 to $202.00 in a research report on Thursday, April 30th. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Wells Fargo & Company upped their target price on Phillips 66 from $201.00 to $239.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group increased their price target on Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $206.56.

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.