GF Fund Management CO. LTD. Has $13.25 Million Position in Phillips 66 $PSX

GF Fund Management CO. LTD. lessened its position in Phillips 66 (NYSE:PSX) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 97,408 shares of the oil and gas company’s stock after selling 8,342 shares during the period. GF Fund Management CO. LTD.’s holdings in Phillips 66 were worth $13,249,000 as of its most recent filing with the SEC.

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

Phillips 66 Stock Performance

PSX opened at $159.75 on Friday. Phillips 66 has a 52-week low of $91.01 and a 52-week high of $163.79. The firm has a market capitalization of $64.37 billion, a PE ratio of 14.76, a PEG ratio of 0.57 and a beta of 0.90. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.87 and a current ratio of 1.23. The business’s 50-day simple moving average is $140.39 and its 200 day simple moving average is $134.85.

Phillips 66 (NYSE:PSX) last posted its quarterly earnings results on Wednesday, February 4th. The oil and gas company reported $2.47 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.32. The firm had revenue of $32.16 billion during the quarter, compared to the consensus estimate of $33.81 billion. Phillips 66 had a return on equity of 9.28% and a net margin of 3.22%.During the same period last year, the company earned ($0.15) earnings per share. As a group, sell-side analysts expect that Phillips 66 will post 6.8 earnings per share for the current fiscal year.

Phillips 66 Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 4th. Investors of record on Monday, February 23rd will be issued a dividend of $1.27 per share. The ex-dividend date is Monday, February 23rd. This is a positive change 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%. Phillips 66’s dividend payout ratio is presently 44.36%.

Wall Street Analyst Weigh In

PSX has been the topic of a number of research reports. Jefferies Financial Group lifted their price target on shares of Phillips 66 from $137.00 to $149.00 and gave the company a “hold” rating in a research note on Monday, January 26th. Piper Sandler upped their target price on shares of Phillips 66 from $153.00 to $156.00 and gave the stock a “neutral” rating in a research note on Thursday, February 5th. Raymond James Financial lifted their price target on Phillips 66 from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Friday, January 23rd. Wolfe Research upped their price objective on Phillips 66 from $159.00 to $164.00 and gave the stock an “outperform” rating in a research report on Monday, January 26th. Finally, JPMorgan Chase & Co. dropped their target price on Phillips 66 from $154.00 to $151.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 13th. Ten research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $158.72.

Insider Buying and Selling at Phillips 66

In related news, EVP Vanessa Allen Sutherland sold 4,394 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $150.00, for a total value of $659,100.00. Following the completion of the sale, the executive vice president directly owned 25,799 shares in the company, valued at approximately $3,869,850. This trade represents a 14.55% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Brian Mandell sold 25,500 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $140.04, for a total value of $3,571,020.00. Following the transaction, the executive vice president directly owned 56,838 shares in the company, valued at approximately $7,959,593.52. This trade represents a 30.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 60,488 shares of company stock worth $8,474,466 over the last ninety days. 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.