2,890 Shares in Phillips 66 $PSX Bought by Oslo Pensjonsforsikring AS

Oslo Pensjonsforsikring AS purchased a new stake in Phillips 66 (NYSE:PSX) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,890 shares of the oil and gas company’s stock, valued at approximately $526,000.

Several other hedge funds have also bought and sold shares of PSX. Norges Bank purchased a new stake in Phillips 66 during the fourth quarter worth $640,206,000. M&T Bank Corp grew its stake in Phillips 66 by 462.9% in the 4th quarter. M&T Bank Corp now owns 2,727,888 shares of the oil and gas company’s stock valued at $352,007,000 after acquiring an additional 2,243,268 shares during the period. AQR Capital Management LLC increased its stake in shares of Phillips 66 by 424.7% during the third quarter. AQR Capital Management LLC now owns 1,893,195 shares of the oil and gas company’s stock worth $257,512,000 after purchasing an additional 1,532,389 shares in the last quarter. Worldquant Millennium Advisors LLC purchased a new stake in Phillips 66 during the 2nd quarter worth approximately $107,967,000. Finally, NewEdge Advisors LLC increased its position in shares of Phillips 66 by 732.0% during the fourth quarter. NewEdge Advisors LLC now owns 996,955 shares of the oil and gas company’s stock worth $128,647,000 after purchasing an additional 877,131 shares in the last quarter. Hedge funds and other institutional investors own 76.93% of the company’s stock.

Insiders Place Their Bets

In related news, Director Kevin Omar Meyers bought 175 shares of the company’s stock in a transaction that occurred on Wednesday, May 6th. The shares were purchased at an average cost of $173.12 per share, with a total value of $30,296.00. Following the transaction, the director directly owned 16,799 shares of the company’s stock, valued at approximately $2,908,242.88. This represents a 1.05% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Kevin J. Mitchell sold 29,400 shares of Phillips 66 stock in a transaction on Friday, May 8th. The stock was sold at an average price of $170.00, for a total transaction of $4,998,000.00. Following the sale, the chief financial officer owned 97,376 shares in the company, valued at $16,553,920. This represents a 23.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 41,021 shares of company stock worth $7,195,257 over the last ninety days. Insiders own 0.40% of the company’s stock.

Phillips 66 Price Performance

Shares of NYSE PSX opened at $212.09 on Wednesday. The stock’s 50-day simple moving average is $180.44 and its 200-day simple moving average is $166.89. The firm has a market capitalization of $85.03 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 0.27 and a beta of 0.69. Phillips 66 has a fifty-two week low of $118.07 and a fifty-two week high of $212.39. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 1.13.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings results 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. 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 during the quarter, compared to the consensus estimate of $35.86 billion. During the same period in the prior year, the company posted ($0.90) earnings per share. The firm’s quarterly revenue was up 6.9% compared to the same quarter last year. As a group, equities research analysts forecast that Phillips 66 will post 19.84 EPS for the current fiscal year.

Phillips 66 Announces Dividend

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 issued a $1.27 dividend. The ex-dividend date is Tuesday, August 18th. This represents a $5.08 annualized dividend and a dividend yield of 2.4%. Phillips 66’s dividend payout ratio is presently 50.05%.

Wall Street Analyst Weigh In

PSX has been the topic of several research reports. Jefferies Financial Group raised their price target on shares of Phillips 66 from $191.00 to $207.00 and gave the stock a “hold” rating in a research note on Thursday, July 9th. Wolfe Research lifted their price target on shares of Phillips 66 from $187.00 to $193.00 and gave the company an “outperform” rating in a research report on Monday, April 6th. Mizuho upgraded Phillips 66 from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $170.00 to $212.00 in a report on Wednesday, May 27th. Weiss Ratings downgraded shares of Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a research note on Friday, May 1st. Finally, Tudor Pickering raised Phillips 66 from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. One 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. According to MarketBeat.com, Phillips 66 presently has an average rating of “Moderate Buy” and an average price target of $197.17.

About Phillips 66

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.