Strs Ohio Boosts Holdings in Phillips 66 $PSX

Strs Ohio raised its position in Phillips 66 (NYSE:PSX) by 4.8% in the 1st quarter, Holdings Channel reports. The firm owned 265,739 shares of the oil and gas company’s stock after buying an additional 12,086 shares during the quarter. Strs Ohio’s holdings in Phillips 66 were worth $48,412,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Board of the Pension Protection Fund purchased a new stake in shares of Phillips 66 in the fourth quarter worth $26,000. Accordant Advisory Group Inc boosted its stake in Phillips 66 by 900.0% during the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 180 shares during the period. Eagle Bay Advisors LLC purchased a new position in Phillips 66 during the fourth quarter worth about $27,000. SWAN Capital LLC grew its position in Phillips 66 by 1,055.6% during the fourth quarter. SWAN Capital LLC now owns 208 shares of the oil and gas company’s stock worth $27,000 after buying an additional 190 shares in the last quarter. Finally, Stephens Consulting LLC increased its stake in Phillips 66 by 67.7% in the 4th quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 90 shares during the last quarter. 76.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Piper Sandler lifted their price target on Phillips 66 from $168.00 to $177.00 and gave the company a “neutral” rating in a research report on Wednesday, April 8th. Weiss Ratings cut shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research report on Friday, May 1st. Guggenheim raised shares of Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. Raymond James Financial raised their target price on shares of Phillips 66 from $215.00 to $218.00 and gave the company an “outperform” rating in a research note on Wednesday, June 10th. Finally, UBS Group reissued a “buy” rating and issued a $212.00 price target on shares of Phillips 66 in a research note on Monday, June 15th. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, Phillips 66 currently has a consensus rating of “Moderate Buy” and a consensus price target of $192.72.

Phillips 66 Price Performance

Shares of Phillips 66 stock opened at $176.40 on Friday. The firm has a market capitalization of $70.72 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 0.25 and a beta of 0.69. 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 has a 12 month low of $118.07 and a 12 month high of $190.61. The business’s 50-day moving average price is $174.12 and its 200-day moving average price is $161.05.

Phillips 66 (NYSE:PSX) last released its earnings results on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.54) by $1.03. The company had revenue of $32.54 billion during the quarter, compared to the consensus estimate of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.Phillips 66’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.90) EPS. Sell-side analysts forecast that Phillips 66 will post 18.39 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date was Monday, May 18th. Phillips 66’s payout ratio is presently 50.05%.

Insider Buying and Selling

In related news, CFO Kevin J. Mitchell sold 600 shares of Phillips 66 stock in a transaction on Monday, May 11th. The shares were sold at an average price of $171.56, for a total value of $102,936.00. Following the transaction, the chief financial officer owned 97,376 shares in the company, valued at $16,705,826.56. This trade represents a 0.61% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kevin Omar Meyers purchased 175 shares of the stock in a transaction on Wednesday, May 6th. The stock was acquired at an average cost 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 of the company’s stock, valued at $2,908,242.88. The trade was a 1.05% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders own 0.40% of the company’s stock.

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.