Public Employees Retirement Association of Colorado grew its holdings in shares of Phillips 66 (NYSE:PSX) by 36.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 959,273 shares of the oil and gas company’s stock after purchasing an additional 258,467 shares during the quarter. Public Employees Retirement Association of Colorado owned approximately 0.21% of Phillips 66 worth $82,641,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. IFP Advisors Inc raised its position in shares of Phillips 66 by 15.2% in the 3rd quarter. IFP Advisors Inc now owns 14,513 shares of the oil and gas company’s stock valued at $1,636,000 after purchasing an additional 1,914 shares during the last quarter. Prospera Financial Services Inc increased its holdings in shares of Phillips 66 by 37.5% during the 3rd quarter. Prospera Financial Services Inc now owns 6,430 shares of the oil and gas company’s stock valued at $737,000 after purchasing an additional 1,752 shares in the last quarter. Alps Advisors Inc. increased its holdings in shares of Phillips 66 by 120.0% during the 3rd quarter. Alps Advisors Inc. now owns 21,545 shares of the oil and gas company’s stock valued at $2,429,000 after purchasing an additional 11,753 shares in the last quarter. Securian Asset Management Inc increased its holdings in shares of Phillips 66 by 2.0% during the 3rd quarter. Securian Asset Management Inc now owns 43,200 shares of the oil and gas company’s stock valued at $4,870,000 after purchasing an additional 848 shares in the last quarter. Finally, State Treasurer State of Michigan increased its holdings in shares of Phillips 66 by 2.4% during the 3rd quarter. State Treasurer State of Michigan now owns 127,235 shares of the oil and gas company’s stock valued at $14,342,000 after purchasing an additional 3,000 shares in the last quarter. 70.02% of the stock is currently owned by institutional investors.
In related news, Chairman Greg C. Garland sold 42,728 shares of Phillips 66 stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $97.61, for a total value of $4,170,680.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.56% of the stock is currently owned by company insiders.
Several equities analysts have recently weighed in on PSX shares. Zacks Investment Research reaffirmed a “buy” rating and set a $113.00 target price on shares of Phillips 66 in a report on Wednesday, November 14th. Wells Fargo & Co lifted their target price on shares of Phillips 66 from $137.00 to $140.00 and gave the company a “buy” rating in a report on Monday, October 29th. Tudor Pickering raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Friday, February 8th. Jefferies Financial Group raised shares of Phillips 66 from a “hold” rating to a “buy” rating in a report on Thursday, December 20th. Finally, Argus cut their target price on shares of Phillips 66 to $116.00 and set a “buy” rating for the company in a report on Thursday, February 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $121.08.
Phillips 66 stock opened at $97.36 on Friday. Phillips 66 has a 1 year low of $78.44 and a 1 year high of $123.97. The firm has a market capitalization of $44.90 billion, a P/E ratio of 8.31, a P/E/G ratio of 1.35 and a beta of 0.94. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.82 and a current ratio of 1.28.
Phillips 66 (NYSE:PSX) last released its quarterly earnings results on Friday, February 8th. The oil and gas company reported $4.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $2.11. Phillips 66 had a net margin of 4.90% and a return on equity of 22.18%. The firm had revenue of $29.84 billion for the quarter, compared to analysts’ expectations of $35.51 billion. During the same quarter last year, the company earned $1.07 EPS. As a group, analysts forecast that Phillips 66 will post 8.47 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Tuesday, February 19th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, February 15th. This represents a $3.20 dividend on an annualized basis and a yield of 3.29%. Phillips 66’s dividend payout ratio is currently 27.33%.
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Phillips 66 Company 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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