Oregon Public Employees Retirement Fund increased its position in shares of Phillips 66 (NYSE:PSX) by 9.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 118,996 shares of the oil and gas company’s stock after purchasing an additional 9,951 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Phillips 66 were worth $13,364,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of PSX. BlackRock Inc. lifted its position in Phillips 66 by 8.1% during the second quarter. BlackRock Inc. now owns 29,146,903 shares of the oil and gas company’s stock worth $3,273,487,000 after purchasing an additional 2,194,280 shares during the period. FMR LLC lifted its position in Phillips 66 by 9.0% during the second quarter. FMR LLC now owns 14,400,087 shares of the oil and gas company’s stock worth $1,617,273,000 after purchasing an additional 1,188,567 shares during the period. Cornerstone Wealth Management LLC lifted its position in Phillips 66 by 11,191.1% during the second quarter. Cornerstone Wealth Management LLC now owns 887,030 shares of the oil and gas company’s stock worth $8,019,000 after purchasing an additional 879,174 shares during the period. American Century Companies Inc. bought a new position in shares of Phillips 66 in the second quarter worth about $89,215,000. Finally, Prudential Financial Inc. lifted its holdings in shares of Phillips 66 by 106.2% in the first quarter. Prudential Financial Inc. now owns 1,308,086 shares of the oil and gas company’s stock worth $125,471,000 after acquiring an additional 673,671 shares during the last quarter. 69.48% of the stock is owned by institutional investors and hedge funds.
Phillips 66 stock opened at $118.96 on Wednesday. Phillips 66 has a 1 year low of $82.66 and a 1 year high of $123.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.24 and a quick ratio of 0.82. The company has a market capitalization of $55.02 billion, a PE ratio of 27.16, a PEG ratio of 1.79 and a beta of 0.99.
Phillips 66 (NYSE:PSX) last released its quarterly earnings data on Friday, July 27th. The oil and gas company reported $2.80 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.16 by $0.64. Phillips 66 had a return on equity of 12.87% and a net margin of 5.34%. The company had revenue of $29.74 billion during the quarter, compared to the consensus estimate of $29.40 billion. During the same quarter in the prior year, the firm posted $1.09 earnings per share. sell-side analysts predict that Phillips 66 will post 7.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 4th. Stockholders of record on Tuesday, August 21st were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 2.69%. The ex-dividend date was Monday, August 20th. Phillips 66’s dividend payout ratio is currently 73.06%.
A number of research analysts have recently commented on PSX shares. Argus increased their target price on shares of Phillips 66 to $133.00 and gave the stock a “buy” rating in a report on Thursday, May 17th. Wells Fargo & Co raised shares of Phillips 66 from a “market perform” rating to an “outperform” rating in a report on Tuesday, May 29th. Credit Suisse Group increased their target price on shares of Phillips 66 from $115.00 to $127.00 and gave the stock a “neutral” rating in a report on Monday, June 4th. JPMorgan Chase & Co. increased their target price on shares of Phillips 66 from $127.00 to $132.00 and gave the stock a “neutral” rating in a report on Monday, June 4th. Finally, Morgan Stanley increased their target price on shares of Phillips 66 from $135.00 to $140.00 and gave the stock an “equal weight” rating in a report on Monday, July 16th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $114.02.
Phillips 66 Profile
Phillips 66 operates as an energy manufacturing and logistics company. 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 products to market, and provides terminaling and storage services for crude oil and petroleum products; transports, stores, fractionates, and markets natural gas liquids, exports LPG, and provides other fee-based processing services; and gathers, processes, transports, and markets natural gas.
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