National Pension Service Acquires 34,742 Shares of Phillips 66 $PSX

National Pension Service boosted its stake in shares of Phillips 66 (NYSE:PSX) by 5.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 732,811 shares of the oil and gas company’s stock after buying an additional 34,742 shares during the period. National Pension Service’s holdings in Phillips 66 were worth $123,882,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. California State Teachers Retirement System increased its position in shares of Phillips 66 by 22,604.5% during the second quarter. California State Teachers Retirement System now owns 106,125,026 shares of the oil and gas company’s stock worth $17,940,436,000 after acquiring an additional 105,657,607 shares in the last quarter. BlackRock Inc. bought a new stake in Phillips 66 in the 2nd quarter valued at $5,766,779,000. State Street Corp boosted its stake in Phillips 66 by 0.8% in the 4th quarter. State Street Corp now owns 23,589,550 shares of the oil and gas company’s stock worth $3,043,996,000 after purchasing an additional 175,616 shares during the period. Geode Capital Management LLC boosted its stake in Phillips 66 by 0.4% in the 4th quarter. Geode Capital Management LLC now owns 10,413,824 shares of the oil and gas company’s stock worth $1,338,596,000 after purchasing an additional 45,340 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in Phillips 66 during the 2nd quarter worth about $1,093,206,000. Institutional investors and hedge funds own 76.93% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PSX. Zacks Research raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Monday. UBS Group increased their price objective on Phillips 66 from $235.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday. Morgan Stanley increased their price objective on Phillips 66 from $180.00 to $196.00 and gave the stock an “overweight” rating in a report on Friday, June 12th. Raymond James Financial lifted their target price on Phillips 66 from $218.00 to $235.00 and gave the company an “outperform” rating in a research report on Monday, July 13th. Finally, Mizuho raised Phillips 66 from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $170.00 to $212.00 in a research report on Wednesday, May 27th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average target price of $222.76.

Phillips 66 Trading Down 0.8%

Shares of NYSE:PSX opened at $258.59 on Friday. The company’s 50-day moving average price is $221.19 and its two-hundred day moving average price is $188.94. Phillips 66 has a one year low of $126.74 and a one year high of $263.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00. The stock has a market capitalization of $103.18 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 0.19 and a beta of 0.71.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, beating the consensus estimate of $7.50 by $1.91. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.The company had revenue of $52.04 billion during the quarter, compared to analysts’ expectations of $43.60 billion. During the same quarter last year, the company earned $2.38 EPS. On average, equities analysts forecast that Phillips 66 will post 24.45 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th were paid a $1.27 dividend. This represents a $5.08 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Tuesday, August 18th. Phillips 66’s dividend payout ratio (DPR) is currently 28.95%.

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

Key Stories Impacting Phillips 66

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

• Positive Sentiment: Momentum and bullish coverage: Zacks highlighted Phillips 66 as a strong momentum candidate, while another commentary described the refiner as having “tech-stock swagger” backed by improving fundamentals. The stock’s move to a 52-week high reinforces its strong recent performance. Phillips 66 Is a Great Momentum Stock Bull of the Day: Phillips 66
• Positive Sentiment: Analyst sentiment is broadly constructive: Phillips 66’s average brokerage recommendation remains bullish, and Zacks Research recently upgraded the shares from Hold to Strong Buy. Such ratings can attract momentum and income-oriented investors, although they are not always reliable indicators of future returns. Wall Street Bulls Look Optimistic About Phillips 66 Zacks Upgrades Phillips 66
• Neutral Sentiment: Refining-cycle outlook remains the key debate: Recent analysis revisited the timing of Phillips 66’s expected performance while maintaining a broader view on the refining cycle. This suggests the long-term thesis remains intact, but the timing of additional upside is uncertain. Phillips 66: I Was Wrong on the Duration, Not on the Cycle
• Negative Sentiment: Hold ratings temper the bullish case: Bank of America Securities and Barclays both reiterated Hold ratings. These cautious views could pressure the shares after their substantial run and near the 52-week high. Bank of America Securities Keeps Hold Rating Barclays Gives Phillips 66 a Hold

Insider Buying and Selling

In other Phillips 66 news, EVP Richard Harbison sold 52,100 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $223.76, for a total transaction of $11,657,896.00. Following the transaction, the executive vice president owned 39,094 shares of the company’s stock, valued at $8,747,673.44. The trade was a 57.13% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kevin Mitchell sold 11,021 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was 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. This represents a 10.17% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 100,507 shares of company stock worth $21,770,810 over the last 90 days. Company insiders own 0.40% of the company’s stock.

Phillips 66 Profile

Phillips 66 (NYSE: PSX) is an energy company that operates across the midstream, chemicals, refining and marketing sectors. Headquartered in Houston, Texas, the company was established in 2012 when ConocoPhillips separated its downstream businesses into an independent company.

The company’s midstream operations include transportation, processing, storage and other infrastructure for crude oil, natural gas and natural gas liquids. Phillips 66 also owns and operates refineries that process crude oil into transportation fuels, lubricants, specialty products and other refined petroleum products.

Phillips 66 markets gasoline, diesel and other fuels under the Phillips 66, Conoco and 76 brands, primarily in the United States.