NFJ Investment Group LLC Acquires 48,947 Shares of Phillips 66 $PSX

NFJ Investment Group LLC lifted its holdings in Phillips 66 (NYSE:PSX) by 359.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,574 shares of the oil and gas company’s stock after acquiring an additional 48,947 shares during the period. NFJ Investment Group LLC’s holdings in Phillips 66 were worth $8,075,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in PSX. First National Bank of Omaha bought a new position in Phillips 66 during the third quarter valued at approximately $2,357,000. TD Asset Management Inc boosted its stake in Phillips 66 by 15.5% during the third quarter. TD Asset Management Inc now owns 174,413 shares of the oil and gas company’s stock valued at $23,724,000 after buying an additional 23,364 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Phillips 66 by 18.2% during the third quarter. PNC Financial Services Group Inc. now owns 963,629 shares of the oil and gas company’s stock valued at $131,073,000 after buying an additional 148,129 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Phillips 66 by 5.1% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 818,025 shares of the oil and gas company’s stock valued at $111,268,000 after buying an additional 39,592 shares during the last quarter. Finally, Fiera Capital Corp purchased a new stake in Phillips 66 during the third quarter valued at approximately $5,665,000. Institutional investors own 76.93% of the company’s stock.

Insider Activity at Phillips 66

In other news, Director Kevin Omar Meyers acquired 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were bought at an average price of $173.12 per share, with a total value of $30,296.00. Following the completion of the purchase, the director directly owned 16,799 shares in the company, valued at $2,908,242.88. This trade represents a 1.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Kevin J. Mitchell sold 29,400 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $170.00, for a total value of $4,998,000.00. Following the completion of the transaction, the chief financial officer directly owned 97,376 shares in the company, valued at approximately $16,553,920. This trade represents a 23.19% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 45,629 shares of company stock worth $8,071,540. 0.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PSX shares. Wolfe Research upped their price objective on Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Wall Street Zen upgraded Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Jefferies Financial Group upped their price objective on Phillips 66 from $173.00 to $191.00 and gave the company a “hold” rating in a research report on Tuesday, May 26th. Citigroup upped their price objective on Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a research report on Thursday, April 9th. Finally, Argus upped their price objective on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research report on Thursday, May 14th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $192.33.

Phillips 66 Trading Up 0.7%

Shares of NYSE PSX opened at $179.27 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13. The business’s 50 day moving average price is $172.49 and its 200-day moving average price is $157.75. Phillips 66 has a fifty-two week low of $118.00 and a fifty-two week high of $190.61. The company has a market cap of $71.87 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 0.26 and a beta of 0.68.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.54) by $1.03. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm had revenue of $32.54 billion for the quarter, compared to the consensus estimate of $35.86 billion. During the same period in the prior year, the business posted ($0.90) earnings per share. The company’s revenue for the quarter was up 6.9% on a year-over-year basis. On average, sell-side analysts expect that Phillips 66 will post 17.95 earnings per share for the current year.

Phillips 66 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Monday, May 18th were issued a $1.27 dividend. This represents a $5.08 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Monday, May 18th. Phillips 66’s dividend payout ratio is presently 50.05%.

Phillips 66 Company 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.