Healthcare of Ontario Pension Plan Trust Fund Grows Stock Holdings in Phillips 66 $PSX

Healthcare of Ontario Pension Plan Trust Fund increased its position in Phillips 66 (NYSE:PSX) by 58.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 25,306 shares of the oil and gas company’s stock after buying an additional 9,378 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Phillips 66 were worth $4,610,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PSX. MUFG Securities EMEA plc boosted its position in shares of Phillips 66 by 113.5% during the fourth quarter. MUFG Securities EMEA plc now owns 16,518 shares of the oil and gas company’s stock worth $2,131,000 after acquiring an additional 8,783 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Phillips 66 by 17.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,371,804 shares of the oil and gas company’s stock valued at $177,018,000 after acquiring an additional 199,646 shares during the last quarter. LBP AM SA lifted its stake in Phillips 66 by 237.8% in the 4th quarter. LBP AM SA now owns 56,380 shares of the oil and gas company’s stock worth $7,275,000 after purchasing an additional 39,690 shares in the last quarter. Horizon Investments LLC lifted its stake in Phillips 66 by 478.4% in the 4th quarter. Horizon Investments LLC now owns 63,290 shares of the oil and gas company’s stock worth $8,167,000 after purchasing an additional 52,348 shares in the last quarter. Finally, Truist Financial Corp boosted its holdings in shares of Phillips 66 by 1.6% during the 4th quarter. Truist Financial Corp now owns 675,084 shares of the oil and gas company’s stock valued at $87,113,000 after purchasing an additional 10,585 shares during the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Phillips 66 Stock Up 0.5%

Shares of NYSE:PSX opened at $206.97 on Thursday. The company has a market cap of $82.98 billion, a price-to-earnings ratio of 20.39, a PEG ratio of 0.16 and a beta of 0.69. Phillips 66 has a 12 month low of $118.07 and a 12 month high of $216.08. The company has a current ratio of 1.13, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average price of $184.11 and a 200 day moving average price of $169.90.

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 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 company had revenue of $32.54 billion for the quarter, compared to analysts’ expectations of $35.86 billion. During the same period in the previous year, the firm posted ($0.90) earnings per share. The firm’s revenue for the quarter was up 6.9% on a year-over-year basis. As a group, equities research analysts predict that Phillips 66 will post 22.43 earnings per share for the current year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. The ex-dividend date of this dividend is Tuesday, August 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.5%. Phillips 66’s payout ratio is currently 50.05%.

Insider Activity

In other news, Director Kevin Omar Meyers acquired 175 shares of the company’s stock in a transaction on Wednesday, May 6th. The stock was bought 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. This represents a 1.05% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the business’s stock in a transaction on Tuesday, July 21st. The shares were sold at an average price of $211.05, for a total transaction of $743,529.15. Following the transaction, the executive vice president owned 27,537 shares in the company, valued at $5,811,683.85. This trade represents a 11.34% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 45,107 shares of company stock valued at $8,057,584. 0.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PSX. Tudor Pickering upgraded Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Guggenheim raised Phillips 66 to an “outperform” rating in a research note on Wednesday, May 27th. Weiss Ratings cut Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. The Goldman Sachs Group lifted their price objective on Phillips 66 from $207.00 to $235.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. Finally, Zacks Research cut Phillips 66 from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.72.

Key Phillips 66 News

Here are the key news stories impacting Phillips 66 this week:

• Positive Sentiment: Energy-sector momentum: Energy stocks rallied late Wednesday, with the NYSE Energy Sector Index rising 2.3%, providing a favorable backdrop for refiners such as Phillips 66. Sector Update: Energy Stocks Gain Late Afternoon
• Positive Sentiment: Refining margins remain supportive: Iran-related supply disruptions and record crack spreads are improving the earnings outlook for U.S. refiners. Phillips 66 has also benefited from better recent results, shareholder returns and a quarterly dividend of $1.27, or $5.08 annualized. Phillips 66 Gains On Refining Strength, Is The Stock Fully Priced?
• Positive Sentiment: Potential asset-sale proceeds: Phillips 66 and Shell are reportedly considering selling their stakes in Explorer, which owns a major refined-products pipeline valued at approximately $3.5 billion. A transaction could unlock value and strengthen PSX’s balance sheet, although no deal is confirmed. Shell, Phillips 66 weigh sale of stakes in $3.5 billion US pipeline Explorer

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.