OMERS ADMINISTRATION Corp Makes New Investment in Phillips 66 $PSX

OMERS ADMINISTRATION Corp bought a new position in shares of Phillips 66 (NYSE:PSX) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 33,427 shares of the oil and gas company’s stock, valued at approximately $5,651,000.

Several other institutional investors and hedge funds have also made changes to their positions in PSX. NFSG Corp increased its position in Phillips 66 by 105.6% during the first quarter. NFSG Corp now owns 146 shares of the oil and gas company’s stock worth $27,000 after buying an additional 75 shares during the period. Axiom Investment Management LLC acquired a new stake in shares of Phillips 66 in the first quarter valued at approximately $27,000. Compass Financial Management LLC acquired a new stake in shares of Phillips 66 in the second quarter valued at approximately $28,000. Kelleher Financial Advisors purchased a new position in shares of Phillips 66 during the second quarter worth approximately $29,000. Finally, J.Safra Asset Management Corp acquired a new position in shares of Phillips 66 in the 2nd quarter valued at $30,000. 76.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on PSX shares. Wall Street Zen upgraded shares of Phillips 66 from a “buy” rating to a “strong-buy” rating in a research report on Sunday, July 26th. The Goldman Sachs Group lifted their price objective on shares of Phillips 66 from $207.00 to $235.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Raymond James Financial upped their target price on shares of Phillips 66 from $218.00 to $235.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Tudor Pickering upgraded shares of Phillips 66 from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Finally, Citigroup reissued a “neutral” rating on shares of Phillips 66 in a report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $206.56.

Phillips 66 Stock Down 0.4%

PSX opened at $241.88 on Tuesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.32 and a quick ratio of 1.00. The business has a 50 day simple moving average of $200.25 and a 200-day simple moving average of $180.36. The stock has a market capitalization of $96.51 billion, a P/E ratio of 13.78, a P/E/G ratio of 0.18 and a beta of 0.68. Phillips 66 has a 12 month low of $126.74 and a 12 month high of $246.95.

Phillips 66 (NYSE:PSX) last announced its quarterly earnings data on Wednesday, August 5th. The oil and gas company reported $9.41 earnings per share for the quarter, topping analysts’ consensus estimates of $7.50 by $1.91. The firm had revenue of $52.04 billion for the quarter, compared to analyst estimates of $43.60 billion. Phillips 66 had a return on equity of 19.93% and a net margin of 4.54%.During the same quarter in the prior year, the company posted $2.38 earnings per share. On average, equities analysts anticipate that Phillips 66 will post 23.86 earnings per share for the current fiscal year.

Phillips 66 Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Tuesday, August 18th will be given a dividend of $1.27 per share. This represents a $5.08 annualized dividend and a dividend yield of 2.1%. The ex-dividend date is Tuesday, August 18th. Phillips 66’s payout ratio is presently 28.95%.

Phillips 66 announced that its Board of Directors has approved a stock buyback program on Friday, July 31st that permits the company to buyback $10.00 billion in outstanding shares. This buyback authorization permits the oil and gas company to buy up to 11.8% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Phillips 66

In related news, EVP Brian Mandell sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $215.00, for a total value of $6,450,000.00. Following the completion of the sale, the executive vice president owned 61,595 shares in the company, valued at $13,242,925. This trade represents a 32.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Vanessa Allen Sutherland sold 3,523 shares of the business’s stock in a transaction dated Tuesday, July 21st. The stock was sold at an average price of $211.05, for a total transaction of $743,529.15. Following the sale, the executive vice president directly owned 27,537 shares in the company, valued at approximately $5,811,683.85. This represents a 11.34% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 100,507 shares of company stock valued at $21,770,810. Company 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.