Police & Firemen s Retirement System of New Jersey Grows Holdings in Phillips 66 $PSX

Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Phillips 66 (NYSE:PSX) by 3.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,821 shares of the oil and gas company’s stock after buying an additional 1,899 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Phillips 66 were worth $7,375,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Elliott Investment Management L.P. raised its stake in Phillips 66 by 1,929.0% during the first quarter. Elliott Investment Management L.P. now owns 15,725,000 shares of the oil and gas company’s stock valued at $1,941,723,000 after buying an additional 14,950,000 shares in the last quarter. Chronos Wealth Management LLC bought a new stake in shares of Phillips 66 in the 2nd quarter valued at approximately $281,000. Sustainable Insight Capital Management LLC bought a new stake in shares of Phillips 66 in the 1st quarter valued at approximately $1,457,000. Evergreen Wealth Solutions LLC acquired a new stake in shares of Phillips 66 during the 1st quarter valued at approximately $292,000. Finally, Jump Financial LLC lifted its stake in Phillips 66 by 307.1% during the first quarter. Jump Financial LLC now owns 11,276 shares of the oil and gas company’s stock worth $1,392,000 after purchasing an additional 8,506 shares during the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Transactions at Phillips 66

In other Phillips 66 news, EVP Vanessa Allen Sutherland sold 4,393 shares of the business’s stock in a transaction dated Friday, September 26th. The shares were sold at an average price of $140.00, for a total transaction of $615,020.00. Following the sale, the executive vice president directly owned 34,587 shares in the company, valued at approximately $4,842,180. The trade was a 11.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Kevin J. Mitchell sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $138.00, for a total transaction of $4,140,000.00. Following the completion of the sale, the chief financial officer directly owned 89,771 shares of the company’s stock, valued at approximately $12,388,398. This represents a 25.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 38,786 shares of company stock worth $5,348,075. Company insiders own 0.22% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE:PSX opened at $139.53 on Friday. The firm’s 50 day moving average is $133.75 and its two-hundred day moving average is $125.65. The firm has a market capitalization of $56.22 billion, a P/E ratio of 38.12, a PEG ratio of 1.81 and a beta of 1.08. The company has a current ratio of 1.07, a quick ratio of 0.79 and a debt-to-equity ratio of 0.60. Phillips 66 has a 52 week low of $91.01 and a 52 week high of $142.93.

Phillips 66 (NYSE:PSX) last posted its earnings results on Wednesday, October 29th. The oil and gas company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.14 by $0.38. Phillips 66 had a return on equity of 5.51% and a net margin of 1.12%.The firm had revenue of $33.69 billion for the quarter, compared to analysts’ expectations of $32.29 billion. During the same period last year, the firm earned $2.04 EPS. Analysts anticipate that Phillips 66 will post 6.8 earnings per share for the current year.

Phillips 66 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Monday, November 17th. Phillips 66’s payout ratio is currently 131.15%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wells Fargo & Company boosted their target price on shares of Phillips 66 from $154.00 to $162.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Evercore ISI raised their price target on shares of Phillips 66 from $130.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, September 19th. Wall Street Zen raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Phillips 66 in a research note on Wednesday, October 8th. Finally, Morgan Stanley raised their target price on shares of Phillips 66 from $128.00 to $140.00 and gave the stock an “equal weight” rating in a report on Friday, October 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Phillips 66 currently has a consensus rating of “Hold” and a consensus price target of $143.56.

Phillips 66 Profile

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.