IFM Investors Pty Ltd Acquires 4,750 Shares of Phillips 66 $PSX

IFM Investors Pty Ltd grew its holdings in Phillips 66 (NYSE:PSX) by 7.6% during the first quarter, Holdings Channel reports. The firm owned 66,891 shares of the oil and gas company’s stock after acquiring an additional 4,750 shares during the quarter. IFM Investors Pty Ltd’s holdings in Phillips 66 were worth $12,186,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Phillips 66 by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 51,930,038 shares of the oil and gas company’s stock worth $6,701,052,000 after purchasing an additional 205,480 shares in the last quarter. State Street Corp boosted its holdings in shares of Phillips 66 by 0.8% during 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 buying an additional 175,616 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Phillips 66 by 0.4% during 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 buying an additional 45,340 shares in the last quarter. Norges Bank acquired a new stake in shares of Phillips 66 during the 4th quarter worth approximately $640,206,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Phillips 66 by 2.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,944,561 shares of the oil and gas company’s stock valued at $509,006,000 after acquiring an additional 89,621 shares in the last quarter. Institutional investors own 76.93% of the company’s stock.

Insider Buying and Selling

In related news, Director Kevin Omar Meyers bought 175 shares of the business’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 transaction, the director directly owned 16,799 shares in the company, valued at approximately $2,908,242.88. This represents a 1.05% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kevin J. Mitchell sold 600 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $171.56, for a total value of $102,936.00. Following the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at $16,705,826.56. This trade represents a 0.61% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Morgan Stanley boosted their target price on shares of Phillips 66 from $180.00 to $196.00 and gave the company an “overweight” rating in a research report on Friday, June 12th. Citigroup lifted their price target on shares of Phillips 66 from $159.00 to $183.00 and gave the company a “neutral” rating in a research note on Thursday, April 9th. Weiss Ratings lowered shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. UBS Group reissued a “buy” rating and set a $212.00 price objective on shares of Phillips 66 in a research report on Monday, June 15th. Finally, Argus raised their target price on Phillips 66 from $185.00 to $197.00 and gave the company a “buy” rating in a research note on Thursday, May 14th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $192.72.

Phillips 66 Stock Performance

Shares of PSX stock opened at $174.38 on Thursday. Phillips 66 has a 12 month low of $118.07 and a 12 month high of $190.61. The firm has a market capitalization of $69.91 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 0.24 and a beta of 0.69. The firm has a fifty day simple moving average of $173.78 and a two-hundred day simple moving average of $160.80. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63.

Phillips 66 (NYSE:PSX) last issued its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.54) by $1.03. The firm had revenue of $32.54 billion during the quarter, compared to analysts’ expectations of $35.86 billion. Phillips 66 had a net margin of 2.99% and a return on equity of 10.98%. The business’s revenue was up 6.9% on a year-over-year basis. During the same period last year, the company earned ($0.90) earnings per share. Analysts forecast that Phillips 66 will post 18.21 EPS for the current fiscal year.

Phillips 66 Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 1st. Shareholders of record on Monday, May 18th were paid a dividend of $1.27 per share. The ex-dividend date was Monday, May 18th. This represents a $5.08 dividend on an annualized basis and a yield of 2.9%. Phillips 66’s payout ratio is 50.05%.

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.