Geode Capital Management LLC Grows Stock Position in Phillips 66 $PSX

Geode Capital Management LLC boosted its position in Phillips 66 (NYSE:PSX) by 0.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 10,413,824 shares of the oil and gas company’s stock after purchasing an additional 45,340 shares during the period. Geode Capital Management LLC’s holdings in Phillips 66 were worth $1,338,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of PSX. Board of the Pension Protection Fund purchased a new stake in Phillips 66 in the fourth quarter worth $26,000. Accordant Advisory Group Inc increased its position in Phillips 66 by 900.0% in the fourth quarter. Accordant Advisory Group Inc now owns 200 shares of the oil and gas company’s stock worth $26,000 after buying an additional 180 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in Phillips 66 in the fourth quarter worth $27,000. Stephens Consulting LLC increased its position in Phillips 66 by 67.7% in the fourth quarter. Stephens Consulting LLC now owns 223 shares of the oil and gas company’s stock worth $29,000 after buying an additional 90 shares during the last quarter. Finally, Dorato Capital Management purchased a new stake in Phillips 66 in the fourth quarter worth $35,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Phillips 66 Price Performance

NYSE:PSX opened at $176.88 on Friday. The firm has a market capitalization of $70.92 billion, a price-to-earnings ratio of 17.43, a P/E/G ratio of 0.26 and a beta of 0.70. Phillips 66 has a 52-week low of $111.19 and a 52-week high of $190.61. The stock has a fifty day moving average of $172.32 and a 200 day moving average of $154.51. 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 posted its quarterly earnings data on Wednesday, April 29th. The oil and gas company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.54) by $1.03. The company had revenue of $32.54 billion during the quarter, compared to analyst estimates of $35.86 billion. Phillips 66 had a return on equity of 10.98% and a net margin of 2.99%.The firm’s quarterly revenue was up 6.9% on a year-over-year basis. During the same quarter last year, the company earned ($0.90) earnings per share. On average, research analysts expect that Phillips 66 will post 17.64 EPS for the current fiscal year.

Phillips 66 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Monday, May 18th will be paid a dividend of $1.27 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $5.08 annualized dividend and a yield of 2.9%. Phillips 66’s dividend payout ratio (DPR) is currently 50.05%.

Insiders Place Their Bets

In related news, CFO Kevin J. Mitchell sold 600 shares of Phillips 66 stock in a transaction on Monday, May 11th. The stock was sold at an average price of $171.56, for a total transaction of $102,936.00. Following the completion of the sale, the chief financial officer owned 97,376 shares of the company’s stock, valued at approximately $16,705,826.56. This trade represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Brian Mandell sold 42,800 shares of Phillips 66 stock in a transaction on Thursday, March 12th. The shares were sold at an average price of $169.53, for a total value of $7,255,884.00. Following the sale, the executive vice president directly owned 61,595 shares of the company’s stock, valued at $10,442,200.35. This represents a 41.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 114,029 shares of company stock worth $19,641,455 over the last three months. Corporate insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PSX shares. Jefferies Financial Group raised their target price on Phillips 66 from $173.00 to $191.00 and gave the stock a “hold” rating in a research report on Tuesday. Wells Fargo & Company raised their target price on Phillips 66 from $163.00 to $201.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 31st. Wolfe Research raised their target price on Phillips 66 from $187.00 to $193.00 and gave the stock an “outperform” rating in a research report on Monday, April 6th. Weiss Ratings lowered Phillips 66 from a “buy (b-)” rating to a “hold (c)” rating in a report on Friday, May 1st. Finally, TD Cowen raised their price target on Phillips 66 from $155.00 to $213.00 and gave the stock a “buy” rating in a report on Wednesday, April 1st. Two equities research 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. According to data from MarketBeat, Phillips 66 presently has a consensus rating of “Moderate Buy” and an average price target of $191.28.

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.